BidaskClub lowered shares of Beigene (NASDAQ:BGNE) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Several other brokerages have also issued reports on BGNE. Maxim Group set a $170.00 target price on Beigene and gave the stock a buy rating in a research report on Friday, August 9th. Sanford C. Bernstein started coverage on Beigene in a research report on Tuesday, June 4th. They issued an outperform rating and a $201.00 price target on the stock. Cowen reissued a buy rating and issued a $170.00 price target on shares of Beigene in a research note on Friday, May 31st. Zacks Investment Research downgraded Beigene from a strong-buy rating to a hold rating in a research report on Tuesday, August 13th. Finally, Macquarie assumed coverage on Beigene in a research report on Friday, July 5th. They set an underperform rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $181.28.

BGNE stock opened at $127.45 on Friday. The company has a fifty day moving average price of $136.65 and a 200-day moving average price of $130.82. The company has a market capitalization of $5.73 billion, a P/E ratio of -10.49 and a beta of 1.01. Beigene has a 52-week low of $105.19 and a 52-week high of $179.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.28 and a current ratio of 6.46.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.43) EPS for the quarter, topping analysts’ consensus estimates of ($3.01) by $1.58. The company had revenue of $243.35 million for the quarter, compared to analyst estimates of $65.58 million. Beigene had a negative net margin of 153.32% and a negative return on equity of 38.41%. Beigene’s revenue was up 360.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.92) earnings per share. As a group, sell-side analysts forecast that Beigene will post -11.23 earnings per share for the current fiscal year.

In related news, Director Timothy Yung-Cheng Chen sold 8,614 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $144.96, for a total transaction of $1,248,685.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Xiaodong Wang sold 4,847 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $126.46, for a total transaction of $612,951.62. Following the completion of the sale, the insider now owns 7,611,628 shares of the company’s stock, valued at $962,566,476.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,365 shares of company stock valued at $4,478,041. 13.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Investment Advisory Services LLC bought a new stake in Beigene in the 2nd quarter valued at about $26,000. Quadrant Capital Group LLC boosted its holdings in Beigene by 131.8% in the first quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock worth $47,000 after acquiring an additional 207 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Beigene by 24.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock valued at $55,000 after acquiring an additional 88 shares during the period. Riverhead Capital Management LLC grew its stake in Beigene by 28.6% in the second quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock valued at $56,000 after acquiring an additional 100 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Beigene in the first quarter valued at approximately $76,000.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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.

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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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