SVB Leerink Weighs in on BeiGene, Ltd.’s Q2 2021 Earnings (NASDAQ:BGNE)

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at SVB Leerink lowered their Q2 2021 earnings estimates for BeiGene in a research note issued on Monday, June 7th. SVB Leerink analyst A. Berens now forecasts that the company will post earnings of ($4.64) per share for the quarter, down from their previous forecast of ($3.16). SVB Leerink also issued estimates for BeiGene’s Q3 2021 earnings at ($5.06) EPS, Q4 2021 earnings at ($5.49) EPS, FY2021 earnings at ($14.50) EPS, FY2022 earnings at ($14.35) EPS, FY2023 earnings at ($8.39) EPS, FY2024 earnings at ($2.02) EPS and FY2025 earnings at $3.21 EPS.

A number of other equities research analysts have also weighed in on the stock. China Renaissance Securities started coverage on shares of BeiGene in a report on Monday, March 8th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of BeiGene from a “sell” rating to a “hold” rating in a research report on Tuesday, May 11th. CLSA downgraded shares of BeiGene from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $330.00 to $321.00 in a research report on Monday, March 1st. Morgan Stanley increased their price objective on shares of BeiGene from $357.00 to $409.00 and gave the company an “overweight” rating in a research report on Thursday, June 3rd. Finally, Cowen increased their price objective on shares of BeiGene from $348.00 to $429.00 and gave the company an “outperform” rating in a research report on Thursday, February 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $322.33.

Shares of NASDAQ:BGNE opened at $352.99 on Wednesday. BeiGene has a 12 month low of $155.16 and a 12 month high of $388.97. The stock has a market capitalization of $32.41 billion, a PE ratio of -25.90 and a beta of 0.87. The company has a current ratio of 4.62, a quick ratio of 4.56 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $328.70.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Friday, May 7th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of ($1.90) by $2.59. BeiGene had a negative net margin of 135.24% and a negative return on equity of 31.71%.

In other news, COO Xiaobin Wu sold 6,715 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $343.00, for a total transaction of $2,303,245.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Jane Huang sold 540 shares of the business’s stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $362.64, for a total value of $195,825.60. Following the sale, the chief marketing officer now owns 292,772 shares in the company, valued at approximately $106,170,838.08. The disclosure for this sale can be found here. Insiders sold 20,456 shares of company stock valued at $6,944,176 over the last 90 days. 8.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of BeiGene by 35.0% during the fourth quarter. Parallel Advisors LLC now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 35 shares during the period. Assetmark Inc. lifted its holdings in BeiGene by 18.0% in the first quarter. Assetmark Inc. now owns 229 shares of the company’s stock valued at $80,000 after acquiring an additional 35 shares during the period. Signaturefd LLC lifted its holdings in BeiGene by 90.1% in the fourth quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $64,000 after acquiring an additional 118 shares during the period. Bedel Financial Consulting Inc. acquired a new position in BeiGene in the first quarter valued at approximately $122,000. Finally, IFP Advisors Inc lifted its holdings in BeiGene by 18.2% in the first quarter. IFP Advisors Inc now owns 499 shares of the company’s stock valued at $173,000 after acquiring an additional 77 shares during the period. 61.50% of the stock is owned by hedge funds and other institutional investors.

About BeiGene

BeiGene, Ltd., a commercial-stage biotechnology company, engages in discovering, developing, manufacturing, and commercializing medicines for cancer therapeutics in the People's Republic of China and the United States. Its commercial products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat 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 tumors; and BAT1706 to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

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Earnings History and Estimates for BeiGene (NASDAQ:BGNE)

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