BeiGene (NASDAQ:BGNE) Shares Gap Down to $198.88

Posted by Defense World Staff on Aug 27th, 2023

BeiGene, Ltd. (NASDAQ:BGNE – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $198.88, but opened at $193.08. BeiGene shares last traded at $197.01, with a volume of 27,713 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on BeiGene from $297.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Jefferies Financial Group initiated coverage on BeiGene in a report on Thursday, August 17th. They issued a “buy” rating and a $287.00 price objective for the company. Sanford C. Bernstein lowered BeiGene from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $335.00 to $196.00 in a report on Friday, June 30th. Citigroup initiated coverage on BeiGene in a report on Monday, July 17th. They issued a “buy” rating and a $275.00 price objective for the company. Finally, StockNews.com initiated coverage on BeiGene in a report on Thursday, August 17th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.57.

Get Our Latest Research Report on BGNE

BeiGene Stock Down 0.2 %

The company has a fifty day moving average price of $194.27 and a 200 day moving average price of $220.43. The company has a market cap of $19.19 billion, a PE ratio of -11.91 and a beta of 0.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.13 and a quick ratio of 2.90.

BeiGene (NASDAQ:BGNE – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.47) by ($0.17). The firm had revenue of $595.30 million during the quarter, compared to the consensus estimate of $501.07 million. BeiGene had a negative return on equity of 40.78% and a negative net margin of 95.67%. The business’s quarterly revenue was up 74.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($5.56) EPS. As a group, analysts anticipate that BeiGene, Ltd. will post -12.59 EPS for the current year.

Insider Buying and Selling

In related news, SVP Chan Henry Lee sold 791 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $216.26, for a total value of $171,061.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BeiGene news, SVP Chan Henry Lee sold 791 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $216.26, for a total value of $171,061.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Advisors Ltd. Hhlr sold 1,163,825 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $218.14, for a total value of $253,876,785.50. Following the transaction, the insider now owns 145,879,233 shares of the company’s stock, valued at approximately $31,822,095,886.62. The disclosure for this sale can be found here. Insiders sold 2,698,127 shares of company stock worth $556,876,818 in the last quarter. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On BeiGene

A number of hedge funds and other institutional investors have recently made changes to their positions in BGNE. Price T Rowe Associates Inc. MD raised its holdings in shares of BeiGene by 68.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 775,857 shares of the company’s stock valued at $167,222,000 after acquiring an additional 314,764 shares in the last quarter. Axiom Investors LLC DE purchased a new stake in BeiGene in the first quarter worth $35,708,000. BlackRock Inc. grew its stake in shares of BeiGene by 23.1% in the second quarter. BlackRock Inc. now owns 868,757 shares of the company’s stock worth $154,899,000 after acquiring an additional 162,949 shares during the last quarter. Fairmount Funds Management LLC grew its stake in shares of BeiGene by 177.1% in the fourth quarter. Fairmount Funds Management LLC now owns 239,443 shares of the company’s stock worth $52,663,000 after acquiring an additional 153,043 shares during the last quarter. Finally, Capital Group Private Client Services Inc. grew its stake in shares of BeiGene by 74.2% in the first quarter. Capital Group Private Client Services Inc. now owns 275,197 shares of the company’s stock worth $51,902,000 after acquiring an additional 117,231 shares during the last quarter. Institutional investors own 49.67% of the company’s stock.

About BeiGene

(Get Free Report)

BeiGene, Ltd., a biotechnology company, develops and commercializes oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; Tislelizumab to treat various solid tumor and blood cancers; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumor malignancies; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).