Sanford C. Bernstein Cuts BeiGene (NASDAQ:BGNE) Price Target to $161.00

BeiGene (NASDAQ:BGNE) had its target price decreased by Sanford C. Bernstein from $196.00 to $161.00 in a research report released on Wednesday morning, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on BeiGene from $184.00 to $186.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Guggenheim reduced their price target on shares of BeiGene from $350.00 to $345.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $257.00.

BeiGene Price Performance

Shares of BGNE stock opened at $156.39 on Wednesday. The firm has a market capitalization of $14.95 billion, a price-to-earnings ratio of -18.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. The stock’s 50-day simple moving average is $157.65 and its 200-day simple moving average is $173.37. BeiGene has a fifty-two week low of $132.95 and a fifty-two week high of $272.49.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business’s quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the company posted ($4.29) earnings per share. As a group, equities analysts forecast that BeiGene will post -8.87 earnings per share for the current fiscal year.

Insider Activity at BeiGene

In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares of the company’s stock, valued at approximately $2,022,694.64. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of BeiGene by 57.4% during the third quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after purchasing an additional 20,239 shares in the last quarter. XY Capital Ltd increased its stake in BeiGene by 1,205.3% during the 3rd quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock worth $2,773,000 after buying an additional 14,235 shares in the last quarter. FMR LLC lifted its position in shares of BeiGene by 3.0% in the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after acquiring an additional 69,297 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of BeiGene by 53.6% in the third quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock worth $8,397,000 after acquiring an additional 16,295 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of BeiGene by 91.9% during the third quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock worth $18,033,000 after buying an additional 48,018 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.