Beigene (BGNE) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Beigene (NASDAQ:BGNE) from a sell rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “

A number of other analysts also recently issued reports on the stock. Cowen reaffirmed a buy rating on shares of Beigene in a report on Sunday, October 14th. Leerink Swann initiated coverage on shares of Beigene in a report on Monday, September 24th. They set an outperform rating and a $215.00 price objective for the company. BidaskClub downgraded shares of Beigene from a sell rating to a strong sell rating in a report on Monday, October 15th. Maxim Group reaffirmed a buy rating and set a $215.00 price objective on shares of Beigene in a report on Thursday, September 20th. Finally, CLSA initiated coverage on shares of Beigene in a report on Wednesday, September 19th. They set a buy rating and a $160.75 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $186.34.

Shares of BGNE traded down $5.18 during mid-day trading on Thursday, reaching $121.25. 461,266 shares of the stock traded hands, compared to its average volume of 351,322. The firm has a market capitalization of $6.70 billion, a P/E ratio of -54.37 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 1 year low of $77.54 and a 1 year high of $220.10.

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

In other Beigene news, Director Xiaodong Wang sold 3,449 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $158.77, for a total value of $547,597.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Amy C. Peterson sold 5,769 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was 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 of the company’s stock, valued at $788,268.32. The disclosure for this sale can be found here. Insiders have sold a total of 14,129 shares of company stock valued at $2,389,512 over the last ninety days. 14.10% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. lifted its stake in Beigene by 43.9% in 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 last quarter. Baker BROS. Advisors LP lifted its stake in Beigene by 105.2% in 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 last quarter. MYDA Advisors LLC bought a new stake in Beigene in the second quarter worth $384,000. Morgan Stanley increased its position in shares of Beigene by 39.6% in the second quarter. Morgan Stanley now owns 500,476 shares of the company’s stock valued at $76,939,000 after acquiring an additional 142,078 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Beigene by 5,558.3% in the second quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock valued at $104,000 after acquiring an additional 667 shares during the period. 77.55% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Hedge Funds Explained

Get a free copy of the Zacks research report on Beigene (BGNE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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