Beigene (BGNE) Price Target Increased to $210.00 by Analysts at Morgan Stanley

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Beigene (NASDAQ:BGNE) had its target price lifted by Morgan Stanley from $200.00 to $210.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other analysts have also issued reports on BGNE. BidaskClub lowered shares of Beigene from a buy rating to a hold rating in a research report on Thursday, April 18th. Zacks Investment Research lowered shares of Beigene from a strong-buy rating to a hold rating in a research report on Monday, March 4th. Piper Jaffray Companies raised their target price on shares of Beigene to $180.00 and gave the stock an overweight rating in a research report on Thursday, May 9th. Maxim Group set a $170.00 target price on shares of Beigene and gave the stock a buy rating in a research report on Thursday, February 28th. Finally, ValuEngine lowered shares of Beigene from a strong-buy rating to a buy rating in a research report on Friday, February 15th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $182.34.

NASDAQ BGNE traded down $4.52 during mid-day trading on Tuesday, reaching $133.72. 4,997 shares of the stock were exchanged, compared to its average volume of 300,050. Beigene has a 1-year low of $105.19 and a 1-year high of $220.10. The firm has a market cap of $7.98 billion, a P/E ratio of -11.08 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.47 and a current ratio of 7.52.

Beigene (NASDAQ:BGNE) last announced its earnings results on Thursday, May 9th. The company reported ($2.81) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.15) by $0.34. Beigene had a negative net margin of 302.58% and a negative return on equity of 44.75%. The firm had revenue of $77.83 million for the quarter, compared to analyst estimates of $55.79 million. During the same quarter last year, the business earned ($2.03) earnings per share. Beigene’s revenue was up 139.2% compared to the same quarter last year. As a group, equities analysts predict that Beigene will post -13.16 EPS for the current year.

In other news, insider Xiaobin Wu sold 5,955 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $124.52, for a total value of $741,516.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald W. Glazer sold 15,027 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $125.11, for a total transaction of $1,880,027.97. Following the sale, the director now directly owns 3,911,518 shares of the company’s stock, valued at $489,370,016.98. The disclosure for this sale can be found here. In the last three months, insiders sold 92,503 shares of company stock worth $12,918,115. Insiders own 13.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. acquired a new stake in Beigene during the 4th quarter valued at $30,000. Daiwa Securities Group Inc. grew its holdings in Beigene by 953.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,055 shares of the company’s stock valued at $288,000 after purchasing an additional 1,860 shares in the last quarter. Vanguard Group Inc. grew its holdings in Beigene by 11.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,064,236 shares of the company’s stock valued at $183,283,000 after purchasing an additional 105,702 shares in the last quarter. Norges Bank acquired a new stake in Beigene during the 4th quarter valued at $47,799,000. Finally, Sectoral Asset Management Inc grew its holdings in Beigene by 50.4% during the 4th quarter. Sectoral Asset Management Inc now owns 14,927 shares of the company’s stock valued at $2,094,000 after purchasing an additional 5,000 shares in the last quarter. 79.66% of the stock is owned by institutional investors and hedge funds.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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 myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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