Beigene (BGNE) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Beigene (NASDAQ:BGNE) from a sell rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “

A number of other equities analysts have also issued reports on BGNE. BidaskClub lowered Beigene from a strong-buy rating to a buy rating in a research note on Wednesday, June 13th. Cowen reaffirmed a buy rating on shares of Beigene in a research note on Friday, June 15th. Piper Jaffray Companies set a $200.00 price target on Beigene and gave the company a buy rating in a research note on Monday, July 23rd. Maxim Group reaffirmed a buy rating and set a $225.00 price target on shares of Beigene in a research note on Monday, July 30th. Finally, Guggenheim started coverage on Beigene in a research note on Monday, September 17th. They set a buy rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Beigene has a consensus rating of Buy and a consensus price target of $186.34.

BGNE stock traded up $0.51 on Wednesday, reaching $126.84. The company’s stock had a trading volume of 565,444 shares, compared to its average volume of 339,220. Beigene has a 52 week low of $77.54 and a 52 week high of $220.10. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of -56.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.14 and a quick ratio of 8.10.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($2.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.80). The business had revenue of $52.80 million during the quarter, compared to the consensus estimate of $22.53 million. Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The business’s quarterly revenue was up 5279999900.0% compared to the same quarter last year. During the same period last year, the company earned ($1.52) earnings per share. On average, equities analysts anticipate that Beigene will post -10.82 EPS for the current fiscal year.

In other news, CEO John Oyler sold 2,550 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $164.12, for a total transaction of $418,506.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Jane Huang sold 2,911 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $174.60, for a total value of $508,260.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,679 shares of company stock valued at $2,808,018. 14.10% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Beigene by 25.2% during the 2nd quarter. Northern Trust Corp now owns 2,250 shares of the company’s stock valued at $346,000 after acquiring an additional 453 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Beigene by 11.1% during the 1st quarter. Guggenheim Capital LLC now owns 5,583 shares of the company’s stock valued at $938,000 after acquiring an additional 558 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Beigene by 5,558.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock valued at $104,000 after acquiring an additional 667 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Beigene by 2.9% during the 2nd quarter. TD Asset Management Inc. now owns 28,348 shares of the company’s stock valued at $4,356,000 after acquiring an additional 800 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Beigene during the 2nd quarter valued at $135,000. Institutional investors own 77.87% of the company’s stock.

About Beigene

BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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