Beigene (BGNE) Receives “Buy” Rating from Cowen

Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating reissued by Cowen in a research note issued to investors on Wednesday.

Several other research analysts have also recently commented on the stock. Leerink Swann started coverage on shares of Beigene in a report on Monday, September 24th. They issued an “outperform” rating and a $215.00 target price for the company. Zacks Investment Research cut shares of Beigene from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. BidaskClub cut shares of Beigene from a “sell” rating to a “strong sell” rating in a report on Monday, October 15th. Maxim Group reiterated a “buy” rating and issued a $215.00 target price on shares of Beigene in a report on Thursday, September 20th. Finally, CLSA started coverage on shares of Beigene in a report on Wednesday, September 19th. They issued a “buy” rating and a $160.75 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $186.34.

Shares of BGNE traded down $6.55 during mid-day trading on Wednesday, hitting $119.88. The company’s stock had a trading volume of 7,210 shares, compared to its average volume of 499,894. The stock has a market capitalization of $6.70 billion, a P/E ratio of -53.18 and a beta of 1.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.14 and a quick ratio of 8.10. Beigene has a fifty-two week low of $77.54 and a fifty-two week high of $220.10.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($2.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.97) by $0.44. The company had revenue of $54.20 million for the quarter, compared to analysts’ expectations of $47.06 million. Beigene had a negative net margin of 75.19% and a negative return on equity of 24.14%. The business’s revenue was down 75.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. As a group, equities research analysts forecast that Beigene will post -10.86 EPS for the current fiscal year.

In related news, CMO Amy C. Peterson sold 5,769 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $169.12, for a total transaction of $975,653.28. Following the completion of the sale, the chief marketing officer now directly owns 4,661 shares in the company, valued at $788,268.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Xiaodong Wang sold 3,449 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $158.77, for a total transaction of $547,597.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,129 shares of company stock valued at $2,389,512. 14.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Beigene by 43.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,521 shares of the company’s stock worth $1,310,000 after purchasing an additional 2,599 shares during the period. Baker BROS. Advisors LP boosted its holdings in shares of Beigene by 105.2% during the second quarter. Baker BROS. Advisors LP now owns 11,959,824 shares of the company’s stock worth $1,838,584,000 after purchasing an additional 6,130,395 shares during the period. MYDA Advisors LLC acquired a new stake in shares of Beigene during the second quarter worth approximately $384,000. Morgan Stanley boosted its holdings in shares of Beigene by 39.6% during the second quarter. Morgan Stanley now owns 500,476 shares of the company’s stock worth $76,939,000 after purchasing an additional 142,078 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Beigene by 5,558.3% during the second quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock worth $104,000 after purchasing an additional 667 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.

Beigene Company Profile

BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

Featured Article: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Beigene (NASDAQ:BGNE)

Receive News & Ratings for Beigene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply