Beigene (NASDAQ:BGNE) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Beigene (NASDAQ:BGNE) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning, ValuEngine reports.

BGNE has been the topic of several other reports. Piper Jaffray Companies reiterated a buy rating on shares of Beigene in a report on Thursday, June 20th. Sanford C. Bernstein assumed coverage on shares of Beigene in a report on Tuesday, June 4th. They issued an outperform rating and a $201.00 target price on the stock. Cowen reiterated a buy rating and issued a $170.00 target price on shares of Beigene in a report on Friday, May 31st. Zacks Investment Research upgraded shares of Beigene from a hold rating to a strong-buy rating and set a $141.00 target price on the stock in a report on Tuesday, July 16th. Finally, Morgan Stanley dropped their price objective on shares of Beigene from $210.00 to $207.00 and set an overweight rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Beigene has a consensus rating of Buy and an average target price of $181.88.

BGNE traded up $1.52 during mid-day trading on Thursday, hitting $137.79. The stock had a trading volume of 182,714 shares, compared to its average volume of 218,696. The business’s fifty day simple moving average is $125.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 7.52 and a quick ratio of 7.47. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of -11.34 and a beta of 1.03. Beigene has a 1-year low of $105.19 and a 1-year high of $182.30.

Beigene (NASDAQ:BGNE) last posted its earnings results on Thursday, May 9th. The company reported ($2.81) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.15) by $0.34. The company had revenue of $77.83 million for the quarter, compared to analyst estimates of $55.79 million. Beigene had a negative net margin of 302.58% and a negative return on equity of 44.75%. The business’s revenue for the quarter was up 139.2% compared to the same quarter last year. During the same period last year, the business posted ($2.03) earnings per share. As a group, analysts forecast that Beigene will post -12.8 earnings per share for the current year.

In related news, CEO John Oyler sold 3,106 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $126.87, for a total transaction of $394,058.22. Following the sale, the chief executive officer now directly owns 17,221,155 shares in the company, valued at $2,184,847,934.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Jane Huang sold 300 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $130.12, for a total transaction of $39,036.00. Following the sale, the chief marketing officer now owns 271,621 shares in the company, valued at $35,343,324.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,716 shares of company stock worth $7,653,043. 13.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its position in Beigene by 301.4% in the fourth quarter. Advisor Group Inc. now owns 285 shares of the company’s stock valued at $40,000 after purchasing an additional 214 shares in the last quarter. Quadrant Capital Group LLC grew its position in Beigene by 131.8% in the first quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock valued at $47,000 after purchasing an additional 207 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Beigene in the first quarter valued at $76,000. Metropolitan Life Insurance Co. NY bought a new position in Beigene in the fourth quarter valued at $140,000. Finally, FDx Advisors Inc. bought a new position in Beigene in the second quarter valued at $205,000.

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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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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