Beigene Ltd (BGNE) Expected to Post Quarterly Sales of $69.59 Million

Equities analysts expect that Beigene Ltd (NASDAQ:BGNE) will report $69.59 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Beigene’s earnings, with estimates ranging from $29.70 million to $121.07 million. Beigene reported sales of $18.17 million in the same quarter last year, which would suggest a positive year over year growth rate of 283%. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Beigene will report full-year sales of $209.87 million for the current fiscal year, with estimates ranging from $145.00 million to $267.27 million. For the next financial year, analysts anticipate that the firm will report sales of $263.47 million, with estimates ranging from $140.00 million to $347.99 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Beigene.

Beigene (NASDAQ:BGNE) last announced its earnings results on Wednesday, November 7th. The company reported ($2.53) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.97) by $0.44. The business had revenue of $54.20 million during the quarter, compared to the consensus estimate of $47.06 million. Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The business’s quarterly revenue was down 75.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 EPS.

BGNE has been the subject of several research analyst reports. CLSA began coverage on Beigene in a research note on Wednesday, September 19th. They set a “buy” rating and a $160.75 target price for the company. Cowen reissued a “buy” rating on shares of Beigene in a research note on Thursday, September 20th. BidaskClub downgraded Beigene from a “sell” rating to a “strong sell” rating in a research note on Monday, October 15th. Zacks Investment Research raised Beigene from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Piper Jaffray Companies set a $200.00 price objective on Beigene and gave the company a “buy” rating in a research note on Wednesday. One 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 company. Beigene currently has a consensus rating of “Buy” and an average target price of $186.34.

Shares of BGNE stock traded down $5.18 during trading hours on Friday, hitting $121.25. 461,200 shares of the company’s stock were exchanged, compared to its average volume of 351,322. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.14 and a quick ratio of 8.10. The company has a market cap of $6.70 billion, a price-to-earnings ratio of -54.37 and a beta of 1.76. Beigene has a fifty-two week low of $77.54 and a fifty-two week high of $220.10.

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

A number of large investors have recently modified their holdings of the business. Baker BROS. Advisors LP grew its holdings in Beigene by 105.2% in the 2nd quarter. Baker BROS. Advisors LP now owns 11,959,824 shares of the company’s stock valued at $1,838,584,000 after buying an additional 6,130,395 shares in the last quarter. FMR LLC grew its holdings in Beigene by 1.7% in the 3rd quarter. FMR LLC now owns 5,466,101 shares of the company’s stock valued at $941,371,000 after buying an additional 90,072 shares in the last quarter. Morgan Stanley grew its holdings in Beigene by 39.6% in the 2nd quarter. Morgan Stanley now owns 500,476 shares of the company’s stock valued at $76,939,000 after buying an additional 142,078 shares in the last quarter. BlackRock Inc. grew its holdings in Beigene by 9.2% in the 3rd quarter. BlackRock Inc. now owns 475,337 shares of the company’s stock valued at $81,863,000 after buying an additional 39,948 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Beigene by 14.1% in the 3rd quarter. Janus Henderson Group PLC now owns 442,507 shares of the company’s stock valued at $76,208,000 after buying an additional 54,593 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.

About Beigene

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.

Read More: Why does a company issue an IPO?

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

Earnings History and Estimates 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