Beigene Ltd (BGNE) Shares Up 4%
Beigene Ltd (NASDAQ:BGNE) shares shot up 4% on Wednesday . The company traded as high as $29.85 and last traded at $29.12, with a volume of 119,951 shares changing hands. The stock had previously closed at $28.01.
A number of brokerages have recently weighed in on BGNE. Cowen and Company restated an “outperform” rating on shares of Beigene in a research report on Thursday, March 31st. Zacks Investment Research upgraded Beigene from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Finally, Morgan Stanley raised their price target on Beigene from $39.00 to $42.00 in a research report on Friday, April 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $39.67.
The company has a 50 day moving average price of $30.02 and a 200-day moving average price of $28.98. The company’s market capitalization is $658.64 million.
Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.92. The company earned $0.70 million during the quarter. The business’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities analysts expect 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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