BeiGene (NASDAQ:BGNE) Releases Quarterly Earnings Results, Beats Expectations By $1.12 EPS

BeiGene (NASDAQ:BGNE) posted its quarterly earnings results on Wednesday. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12, Briefing.com reports. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The business had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same period in the previous year, the firm posted ($3.64) earnings per share. BeiGene’s revenue for the quarter was up 56.1% compared to the same quarter last year.

BeiGene Trading Up 3.6 %

Shares of BeiGene stock traded up $6.30 on Thursday, hitting $183.03. The stock had a trading volume of 607,520 shares, compared to its average volume of 240,867. The stock has a 50 day moving average of $155.53 and a 200 day moving average of $155.68. The firm has a market capitalization of $17.74 billion, a P/E ratio of -24.18 and a beta of 0.59. BeiGene has a twelve month low of $126.97 and a twelve month high of $219.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08.

Insider Buying and Selling

In related news, SVP Chan Henry Lee sold 834 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total value of $133,915.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $143.90, for a total value of $67,920.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,517 shares of company stock worth $1,190,004 in the last ninety days. Company insiders own 7.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BGNE. TD Cowen boosted their target price on BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Bank of America dropped their target price on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup upped their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.05.

BeiGene Company Profile

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.