Cowen Reaffirms Buy Rating for Beigene (BGNE)

Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating reissued by equities research analysts at Cowen in a research report issued to clients and investors on Monday, January 8th.

Several other research analysts also recently weighed in on BGNE. Maxim Group reaffirmed a “buy” rating and issued a $77.00 target price on shares of Beigene in a report on Monday, September 11th. Zacks Investment Research raised shares of Beigene from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Tuesday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 target price (up previously from $87.00) on shares of Beigene in a report on Friday, October 6th. Robert W. Baird reaffirmed a “neutral” rating and issued a $83.00 target price (up previously from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Finally, ValuEngine downgraded shares of Beigene from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $96.67.

Shares of Beigene (NASDAQ BGNE) traded down $0.42 during mid-day trading on Monday, hitting $102.86. 232,700 shares of the stock were exchanged, compared to its average volume of 186,190. Beigene has a 12-month low of $31.70 and a 12-month high of $118.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33. The company has a market cap of $4,700.00 and a P/E ratio of -78.52.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $2.31. The business had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same period in the previous year, the firm earned ($1.08) EPS. sell-side analysts expect that Beigene will post -2.04 earnings per share for the current fiscal year.

In other Beigene news, CMO Amy C. Peterson sold 3,601 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $82.96, for a total transaction of $298,738.96. Following the completion of the transaction, the chief marketing officer now owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Oyler sold 150,957 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the transaction, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at approximately $39,597,225.50. The disclosure for this sale can be found here. Insiders have sold a total of 483,482 shares of company stock valued at $42,139,474 in the last three months. Insiders own 19.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BGNE. First Trust Advisors LP boosted its holdings in shares of Beigene by 2.2% during the 2nd quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock valued at $2,199,000 after purchasing an additional 1,029 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Beigene during the 2nd quarter valued at about $111,000. Alliancebernstein L.P. bought a new position in shares of Beigene during the 2nd quarter valued at about $7,373,000. Baillie Gifford & Co. boosted its holdings in shares of Beigene by 5.0% during the 2nd quarter. Baillie Gifford & Co. now owns 74,424 shares of the company’s stock valued at $3,349,000 after purchasing an additional 3,559 shares during the last quarter. Finally, Profund Advisors LLC bought a new position in shares of Beigene during the 2nd quarter valued at about $248,000. 55.32% of the stock is owned by institutional investors and hedge funds.

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About Beigene

BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.

Analyst Recommendations for Beigene (NASDAQ:BGNE)

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