StockNews.com Initiates Coverage on BeiGene (NASDAQ:BGNE)

StockNews.com started coverage on shares of BeiGene (NASDAQ:BGNE – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the stock.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley reduced their price objective on shares of BeiGene from $325.00 to $321.00 and set an overweight rating for the company in a research report on Tuesday, February 28th. Daiwa Capital Markets started coverage on BeiGene in a report on Wednesday, January 11th. They set a buy rating and a $308.00 target price for the company. Cowen lifted their target price on BeiGene from $213.00 to $262.00 and gave the stock an outperform rating in a report on Tuesday, February 28th. SVB Leerink lifted their target price on BeiGene from $236.00 to $300.00 and gave the stock an outperform rating in a report on Friday, January 20th. Finally, Guggenheim reissued a buy rating and set a $350.00 target price on shares of BeiGene in a report on Tuesday, February 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, BeiGene has an average rating of Moderate Buy and a consensus target price of $292.86.

BeiGene Stock Down 0.6 %

Shares of BGNE opened at $223.32 on Thursday. BeiGene has a twelve month low of $118.18 and a twelve month high of $280.62. The company has a 50 day moving average of $244.26 and a 200-day moving average of $202.29. The company has a quick ratio of 3.35, a current ratio of 3.55 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE – Get Rating) last released its earnings results on Monday, February 27th. The company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($4.18) by ($0.11). BeiGene had a negative net margin of 141.86% and a negative return on equity of 39.72%. The firm had revenue of $380.10 million during the quarter, compared to the consensus estimate of $388.17 million. During the same period in the prior year, the business posted ($6.22) earnings per share. BeiGene’s quarterly revenue was up 77.6% compared to the same quarter last year. On average, sell-side analysts predict that BeiGene will post -12.65 EPS for the current year.

Insider Buying and Selling at BeiGene

In other news, insider Xiaodong Wang sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $252.66, for a total transaction of $631,650.00. Following the sale, the insider now directly owns 5,512,556 shares in the company, valued at $1,392,802,398.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO John Oyler sold 6,797 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $248.52, for a total value of $1,689,190.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Xiaodong Wang sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $252.66, for a total value of $631,650.00. Following the completion of the sale, the insider now owns 5,512,556 shares in the company, valued at $1,392,802,398.96. The disclosure for this sale can be found here. Insiders have sold a total of 80,668 shares of company stock worth $18,469,758 over the last 90 days. Insiders own 7.50% of the company’s stock.

Institutional Trading of BeiGene

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in BeiGene by 26.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 244 shares of the company’s stock valued at $54,000 after buying an additional 51 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in BeiGene in the third quarter valued at approximately $61,000. CI Investments Inc. raised its position in shares of BeiGene by 295.4% during the fourth quarter. CI Investments Inc. now owns 518 shares of the company’s stock worth $114,000 after purchasing an additional 387 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of BeiGene by 8.3% during the third quarter. Rockefeller Capital Management L.P. now owns 885 shares of the company’s stock worth $119,000 after purchasing an additional 68 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of BeiGene during the third quarter worth approximately $165,000. 51.43% of the stock is currently owned by institutional investors.

BeiGene Company Profile

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BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.