Beigene Ltd (BGNE) Sees Large Volume Increase
Shares of Beigene Ltd (NASDAQ:BGNE) saw strong 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 analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen and Company reiterated a “buy” rating on shares of Beigene in a research note on Thursday, May 12th. Finally, Morgan Stanley boosted their target price on shares of Beigene from $39.00 to $42.00 in a research note on Friday, April 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Beigene currently has an average rating of “Buy” and an average target price of $39.67.
The stock’s 50-day moving average is $29.86 and its 200 day moving average is $28.95. The stock’s market capitalization is $617.47 million.
Beigene (NASDAQ:BGNE) last announced its earnings results on Wednesday, May 11th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.92. The business earned $0.70 million during the quarter. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, analysts expect that Beigene Ltd will post ($3.17) EPS 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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