BeiGene, Ltd. (BGNE) Releases Quarterly Earnings Results, Beats Expectations By $2.31 EPS
BeiGene, Ltd. (NASDAQ:BGNE) released its quarterly earnings data on Monday. The company reported $2.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $2.31, Briefing.com reports. During the same period in the previous year, the firm posted ($1.08) earnings per share.
Shares of BeiGene (BGNE) opened at $83.18 on Tuesday. The company has a quick ratio of 8.38, a current ratio of 8.38 and a debt-to-equity ratio of 0.57. BeiGene has a twelve month low of $26.43 and a twelve month high of $118.95.
Several research firms have issued reports on BGNE. Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price objective (up previously from $87.00) on shares of BeiGene in a research report on Friday, October 6th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $86.00 price objective (up previously from $43.00) on shares of BeiGene in a research report on Tuesday, August 15th. Zacks Investment Research cut BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Maxim Group reiterated a “buy” rating and issued a $120.00 price objective (up previously from $77.00) on shares of BeiGene in a research report on Thursday, September 28th. Finally, Robert W. Baird cut BeiGene from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $58.00 to $83.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $96.67.
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A hedge fund recently raised its stake in BeiGene stock. State Street Corp raised its position in BeiGene, Ltd. (NASDAQ:BGNE) by 14.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 36,604 shares of the company’s stock after purchasing an additional 4,619 shares during the period. State Street Corp owned about 0.09% of BeiGene worth $1,647,000 at the end of the most recent reporting period. 52.09% of the stock is owned by institutional investors.
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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