Beigene Ltd (BGNE) Sees Large Volume Increase
Beigene Ltd (NASDAQ:BGNE) saw an uptick in trading volume on Thursday . 66,825 shares traded hands during trading, an increase of 25% from the previous session’s volume of 53,644 shares.The stock last traded at $28.02 and had previously closed at $29.12.
Several research firms have recently weighed in on BGNE. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Tuesday. Cowen and Company restated a “buy” rating on shares of Beigene in a research report on Thursday, May 12th. Finally, Morgan Stanley raised their price objective on shares of Beigene from $39.00 to $42.00 in a research report on Friday, April 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $39.67.
The company has a 50-day moving average price of $29.96 and a 200 day moving average price of $28.97. The firm’s market cap is $624.94 million.
Beigene (NASDAQ:BGNE) last announced its earnings results on Wednesday, May 11th. The company reported ($0.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.92. The business had revenue of $0.70 million for the quarter. The company’s revenue was down 50.0% compared to the same quarter last year. On average, equities analysts forecast that Beigene Ltd will post ($3.17) earnings per share for the current year.
BeiGene, Ltd. is a biopharmaceutical company. The Company is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. It is developing its product candidate, BGB-3111, a potent and selective small molecule Bruton’s tyrosine kinase (BTK) inhibitor, as a monotherapy and in combination with other therapies for the treatment of a range of lymphomas.
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