JPMorgan Chase & Co. assumed coverage on shares of Beigene (NASDAQ:BGNE) in a research report sent to investors on Tuesday morning, The Fly reports. The brokerage issued an overweight rating on the stock.

BGNE has been the topic of several other research reports. Cowen reaffirmed a buy rating on shares of Beigene in a research report on Sunday, October 14th. ValuEngine raised Beigene from a buy rating to a strong-buy rating in a research report on Tuesday, October 2nd. BidaskClub raised Beigene from a hold rating to a buy rating in a research report on Thursday, July 26th. Zacks Investment Research raised Beigene from a sell rating to a hold rating and set a $124.00 price target on the stock in a research report on Thursday, November 8th. Finally, Leerink Swann assumed coverage on Beigene in a research report on Monday, September 24th. They set an outperform rating and a $215.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $172.47.

Shares of NASDAQ BGNE opened at $125.82 on Tuesday. The company has a current ratio of 11.57, a quick ratio of 11.47 and a debt-to-equity ratio of 0.09. Beigene has a fifty-two week low of $77.54 and a fifty-two week high of $220.10. The stock has a market cap of $6.68 billion, a PE ratio of -56.42 and a beta of 1.76.

Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, November 7th. The company reported ($2.53) EPS for the quarter, topping the consensus estimate of ($2.97) by $0.44. The company had revenue of $54.20 million for the quarter, compared to analyst estimates of $47.06 million. Beigene had a negative return on equity of 38.44% and a negative net margin of 320.08%. The firm’s revenue was down 75.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. Equities analysts forecast that Beigene will post -9.75 EPS for the current year.

In other news, CMO Amy C. Peterson sold 14,711 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $126.07, for a total value of $1,854,615.77. Following the transaction, the chief marketing officer now owns 194,569 shares of the company’s stock, valued at $24,529,313.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Amy C. Peterson sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $120.20, for a total value of $4,808,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 194,569 shares in the company, valued at approximately $23,387,193.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,391 shares of company stock worth $8,504,530. 13.30% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Beigene by 43.9% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,521 shares of the company’s stock valued at $1,310,000 after purchasing an additional 2,599 shares during the period. Baker BROS. Advisors LP increased its holdings in shares of Beigene by 105.2% in the second quarter. Baker BROS. Advisors LP now owns 11,959,824 shares of the company’s stock valued at $1,838,584,000 after purchasing an additional 6,130,395 shares during the period. MYDA Advisors LLC acquired a new position in shares of Beigene in the second quarter valued at approximately $384,000. Morgan Stanley increased its holdings in shares of Beigene by 39.6% in the second quarter. Morgan Stanley now owns 500,476 shares of the company’s stock valued at $76,939,000 after purchasing an additional 142,078 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Beigene by 5,558.3% in the second quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock valued at $104,000 after purchasing an additional 667 shares during the period. 83.69% of the stock is currently owned by institutional investors and hedge funds.

Beigene Company Profile

BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

Further Reading: Average Daily Trade Volume – ADTV

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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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