BeiGene (BGNE) Lowered to “Sell” at Zacks Investment Research

BeiGene (NASDAQ:BGNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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. “

BGNE has been the subject of several other research reports. Credit Suisse Group assumed coverage on shares of BeiGene in a report on Monday. They set an “outperform” rating for the company. Maxim Group set a $120.00 price target on shares of BeiGene and gave the stock a “buy” rating in a report on Monday, January 22nd. Piper Jaffray began coverage on shares of BeiGene in a report on Friday, April 13th. They set an “overweight” rating and a $200.00 price target for the company. Morgan Stanley upped their target price on shares of BeiGene from $93.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, March 21st. Finally, Ladenburg Thalmann restated a “buy” rating and issued a $172.00 target price on shares of BeiGene in a report on Thursday, March 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $169.43.

NASDAQ BGNE opened at $186.99 on Monday. The company has a quick ratio of 11.12, a current ratio of 11.18 and a debt-to-equity ratio of 0.12. BeiGene has a 52 week low of $180.73 and a 52 week high of $187.32. The company has a market cap of $9.36 billion, a price-to-earnings ratio of -83.85 and a beta of 0.29.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, May 9th. The company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.62) by ($0.41). The business had revenue of $32.54 million for the quarter, compared to the consensus estimate of $16.88 million. During the same period in the previous year, the business earned ($1.27) EPS. research analysts expect that BeiGene will post -8.23 EPS for the current fiscal year.

In other news, CFO Howard Liang sold 40,000 shares of the company’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $160.27, for a total value of $6,410,800.00. Following the completion of the transaction, the chief financial officer now owns 15,872 shares in the company, valued at approximately $2,543,805.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Oyler sold 99,000 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $145.63, for a total transaction of $14,417,370.00. Following the completion of the transaction, the chief executive officer now owns 93,883 shares of the company’s stock, valued at approximately $13,672,181.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,210 shares of company stock valued at $29,041,676. Company insiders own 19.90% of the company’s stock.

Several institutional investors have recently modified their holdings of BGNE. Temasek Holdings Private Ltd boosted its holdings in shares of BeiGene by 77.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,270,100 shares of the company’s stock valued at $381,377,000 after buying an additional 990,100 shares in the last quarter. Artal Group S.A. raised its position in BeiGene by 100.0% in the 1st quarter. Artal Group S.A. now owns 600,000 shares of the company’s stock valued at $100,800,000 after purchasing an additional 300,000 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd purchased a new stake in BeiGene in the 1st quarter valued at $37,716,000. Indus Capital Partners LLC raised its position in BeiGene by 48.2% in the 1st quarter. Indus Capital Partners LLC now owns 564,089 shares of the company’s stock valued at $94,767,000 after purchasing an additional 183,503 shares during the last quarter. Finally, Matthews International Capital Management LLC purchased a new stake in BeiGene in the 1st quarter valued at $20,715,000. Institutional investors and hedge funds own 51.88% of the company’s stock.

BeiGene Company Profile

BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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