Equities analysts expect Beigene Ltd (NASDAQ:BGNE) to report sales of $61.00 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Beigene’s earnings, with estimates ranging from $60.00 million to $62.00 million. Beigene posted sales of $52.80 million during the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The business is scheduled to report its next quarterly earnings results on Thursday, August 8th.
On average, analysts expect that Beigene will report full year sales of $295.17 million for the current year, with estimates ranging from $151.00 million to $504.17 million. For the next year, analysts expect that the company will post sales of $387.81 million, with estimates ranging from $200.00 million to $607.75 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Beigene.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.81) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.15) by $0.34. Beigene had a negative return on equity of 44.75% and a negative net margin of 302.58%. The firm had revenue of $77.83 million for the quarter, compared to analyst estimates of $55.79 million. During the same period last year, the firm posted ($2.03) earnings per share. The business’s revenue for the quarter was up 139.2% on a year-over-year basis.
A number of equities analysts have recently issued reports on BGNE shares. Cowen restated a “buy” rating on shares of Agios Pharmaceuticals in a research report on Friday, May 31st. Macquarie started coverage on Baozun in a research report on Friday, July 5th. They set a “buy” rating and a $60.00 price objective for the company. Morgan Stanley set a $70.00 price objective on Edison International and gave the stock a “hold” rating in a research report on Monday, July 15th. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, July 16th. Finally, Maxim Group set a $9.00 price objective on Pitney Bowes and gave the stock a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $181.88.
In other Beigene news, insider Xiaobin Wu sold 5,955 shares of Beigene stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $124.52, for a total value of $741,516.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 2,824 shares of Beigene stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $125.18, for a total value of $353,508.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,365 shares of company stock valued at $7,385,178. 13.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of BGNE. Hillhouse Capital Advisors Ltd. bought a new stake in Beigene in the fourth quarter worth approximately $622,467,000. BlackRock Inc. increased its holdings in Beigene by 294.9% in the fourth quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock worth $263,281,000 after purchasing an additional 1,401,773 shares in the last quarter. Norges Bank bought a new stake in Beigene in the fourth quarter worth approximately $47,799,000. FMR LLC increased its holdings in Beigene by 2.3% in the fourth quarter. FMR LLC now owns 5,594,173 shares of the company’s stock worth $784,639,000 after purchasing an additional 128,072 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Beigene by 418.8% in the fourth quarter. Geode Capital Management LLC now owns 134,057 shares of the company’s stock worth $18,629,000 after purchasing an additional 108,218 shares in the last quarter.
Shares of BGNE stock traded down $0.04 during mid-day trading on Friday, reaching $124.36. 160,584 shares of the stock traded hands, compared to its average volume of 201,899. Beigene has a 1-year low of $105.19 and a 1-year high of $194.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.47 and a current ratio of 7.52. The stock has a market capitalization of $5.80 billion, a P/E ratio of -10.24 and a beta of 1.03. The business has a fifty day moving average price of $122.86.
Beigene Company Profile
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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.
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