BeiGene (NASDAQ:BGNE) Sees Large Volume Increase – What’s Next?

BeiGene, Ltd. (NASDAQ:BGNE) saw unusually-strong trading volume on Monday . Approximately 1,411,044 shares were traded during trading, an increase of 421% from the previous session’s volume of 270,992 shares.The stock last traded at $214.19 and had previously closed at $215.00.

Analyst Ratings Changes

Several brokerages recently commented on BGNE. TD Cowen lifted their price objective on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup increased their price objective on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $300.00 price objective on shares of BeiGene in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BeiGene presently has an average rating of “Moderate Buy” and an average target price of $253.69.

BeiGene Price Performance

The firm has a 50-day moving average of $212.45 and a 200-day moving average of $185.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. The stock has a market cap of $20.07 billion, a PE ratio of -25.00 and a beta of 0.57.

BeiGene (NASDAQ:BGNE) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. BeiGene’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the firm posted $2.01 EPS. Research analysts predict that BeiGene, Ltd. will post -5.49 EPS for the current year.

Insider Buying and Selling

In other BeiGene news, CEO John Oyler sold 6,175 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Xiaodong Wang sold 40,468 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total transaction of $7,692,966.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,845 shares of company stock worth $11,514,300. Corporate insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Several large investors have recently added to or reduced their stakes in BGNE. Baillie Gifford & Co. increased its position in shares of BeiGene by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock valued at $831,979,000 after purchasing an additional 23,807 shares during the last quarter. FMR LLC raised its stake in shares of BeiGene by 0.8% in the third quarter. FMR LLC now owns 1,660,011 shares of the company’s stock valued at $372,689,000 after acquiring an additional 12,855 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of BeiGene by 74.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after acquiring an additional 285,784 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BeiGene by 160.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares during the period. Finally, TD Asset Management Inc raised its position in BeiGene by 1.4% in the 2nd quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock worth $16,318,000 after purchasing an additional 1,599 shares during the period. 48.55% of the stock is owned by institutional investors.

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.