BeiGene (NASDAQ:BGNE) Issues Earnings Results

BeiGene (NASDAQ:BGNE) announced its quarterly earnings results on Wednesday. The company reported ($2.41) EPS for the quarter, beating the consensus estimate of ($3.07) by $0.66, Briefing.com reports. The business had revenue of $751.70 million for the quarter, compared to analyst estimates of $670.09 million. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The company’s quarterly revenue was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.34) EPS.

BeiGene Stock Up 2.5 %

NASDAQ BGNE traded up $4.12 during trading hours on Thursday, hitting $168.56. 90,405 shares of the company were exchanged, compared to its average volume of 250,617. The company has a 50 day moving average of $154.92 and a two-hundred day moving average of $166.53. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of -19.72 and a beta of 0.63. BeiGene has a 52-week low of $126.97 and a 52-week high of $246.82.

Wall Street Analyst Weigh In

A number of research analysts have commented on BGNE shares. Guggenheim decreased their target price on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Sanford C. Bernstein decreased their price objective on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a report on Wednesday, March 27th. Bank of America lowered their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. TD Cowen boosted their target price on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, BeiGene has a consensus rating of “Moderate Buy” and an average price target of $251.93.

Insider Activity

In related news, CEO John Oyler sold 37,668 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BeiGene news, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the completion of the sale, the chief executive officer now directly owns 12,332 shares of the company’s stock, valued at approximately $2,022,694.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is currently owned by company insiders.

BeiGene Company Profile

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.