BeiGene (NASDAQ:BGNE) Posts Earnings Results, Beats Estimates By $0.66 EPS

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

BeiGene Stock Performance

NASDAQ:BGNE traded up $3.64 during mid-day trading on Thursday, reaching $168.08. 76,644 shares of the company’s stock were exchanged, compared to its average volume of 250,576. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. BeiGene has a one year low of $126.97 and a one year high of $246.82. The firm has a market capitalization of $16.08 billion, a PE ratio of -19.72 and a beta of 0.63. The business’s fifty day simple moving average is $154.92 and its two-hundred day simple moving average is $166.53.

Insiders Place Their Bets

In related news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the completion of the transaction, the chief executive officer now directly owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO John Oyler sold 26,716 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the sale, the chief executive officer now owns 12,084 shares in the company, valued at approximately $1,799,186.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $66,330.76. The disclosure for this sale can be found here. Insiders sold 64,781 shares of company stock worth $10,222,381 over the last three months. Insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.