$23.00 Million in Sales Expected for Beigene Ltd (BGNE) This Quarter

Equities analysts predict that Beigene Ltd (NASDAQ:BGNE) will report sales of $23.00 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Beigene’s earnings. The lowest sales estimate is $16.50 million and the highest is $29.50 million. The company is scheduled to report its next earnings report on Wednesday, March 28th.

According to Zacks, analysts expect that Beigene will report full year sales of $23.00 million for the current fiscal year, with estimates ranging from $229.56 million to $249.71 million. For the next fiscal year, analysts forecast that the company will report sales of $129.99 million per share, with estimates ranging from $69.37 million to $203.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Beigene.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Monday, November 13th. The company reported $2.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $2.31. The business had revenue of $220.21 million for the quarter, compared to analysts’ expectations of $1.55 million. During the same quarter in the previous year, the company posted ($1.08) earnings per share.

A number of brokerages recently commented on BGNE. Robert W. Baird restated a “neutral” rating and set a $83.00 price target (up from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Maxim Group set a $120.00 price target on shares of Beigene and gave the company a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research cut shares of Beigene from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. Cowen restated a “buy” rating on shares of Beigene in a research note on Monday, January 8th. Finally, ValuEngine upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $96.67.

In other Beigene news, CMO Jane Huang sold 1,600 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $86.25, for a total value of $138,000.00. Following the sale, the chief marketing officer now directly owns 264,900 shares in the company, valued at approximately $22,847,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker bought 1,980,198 shares of the stock in a transaction on Thursday, January 18th. The stock was purchased at an average price of $101.00 per share, for a total transaction of $199,999,998.00. The disclosure for this purchase can be found here. Insiders sold a total of 303,270 shares of company stock worth $27,556,711 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BGNE. Canada Pension Plan Investment Board purchased a new stake in Beigene in the 3rd quarter worth approximately $62,076,000. Janus Henderson Group PLC purchased a new stake in Beigene in the 3rd quarter worth approximately $33,744,000. Artal Group S.A. lifted its stake in Beigene by 33.3% in the 4th quarter. Artal Group S.A. now owns 300,000 shares of the company’s stock worth $29,316,000 after purchasing an additional 75,000 shares in the last quarter. California Public Employees Retirement System purchased a new stake in Beigene in the 3rd quarter worth approximately $4,912,000. Finally, Horseman Capital Management Ltd purchased a new stake in Beigene in the 4th quarter worth approximately $4,515,000. Institutional investors and hedge funds own 47.62% of the company’s stock.

Shares of Beigene (NASDAQ:BGNE) traded up $7.15 during mid-day trading on Monday, hitting $129.24. 207,400 shares of the company were exchanged, compared to its average volume of 320,405. The stock has a market cap of $6,445.50, a PE ratio of -99.42 and a beta of 0.61. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20. Beigene has a 12 month low of $34.36 and a 12 month high of $142.00.

COPYRIGHT VIOLATION WARNING: This article was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/02/15/23-00-million-in-sales-expected-for-beigene-ltd-bgne-this-quarter.html.

Beigene Company Profile

BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.

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

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