TD Cowen Raises BeiGene (NASDAQ:BGNE) Price Target to $254.00

BeiGene (NASDAQ:BGNE) had its price target raised by stock analysts at TD Cowen from $236.00 to $254.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 51.10% from the company’s previous close.

A number of other analysts have also recently weighed in on BGNE. Bank of America dropped their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a report on Monday, April 8th. Sanford C. Bernstein lowered their target price on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a report on Wednesday, March 27th. Guggenheim cut their price target on BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. increased their target price 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 given a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene presently has an average rating of “Moderate Buy” and an average price target of $251.93.

BeiGene Stock Up 2.2 %

BGNE stock traded up $3.66 during midday trading on Thursday, hitting $168.10. 76,064 shares of the company’s stock were exchanged, compared to its average volume of 250,576. The firm has a 50 day moving average price of $154.92 and a 200-day moving average price of $166.53. BeiGene has a 12-month low of $126.97 and a 12-month high of $246.82. The stock has a market capitalization of $16.08 billion, a price-to-earnings ratio of -19.72 and a beta of 0.63. The company has a current ratio of 2.32, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.07) by $0.66. The firm had revenue of $751.70 million for the quarter, compared to analysts’ expectations of $670.09 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The firm’s quarterly revenue was up 67.9% on a year-over-year basis. During the same period in the prior year, the company posted ($3.34) earnings per share. On average, analysts anticipate that BeiGene will post -8.9 EPS for the current year.

Insider Activity

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Oyler sold 26,716 shares of BeiGene stock in a transaction that occurred 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 owns 12,084 shares in the company, valued at approximately $1,799,186.76. 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. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in BeiGene during the 1st quarter valued at $50,000. Toronto Dominion Bank grew its position in BeiGene by 166.4% during the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after purchasing an additional 208 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in BeiGene by 20.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock valued at $80,000 after buying an additional 76 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in BeiGene in the 4th quarter worth approximately $98,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of BeiGene by 123.9% in the third quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after acquiring an additional 405 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.