BeiGene (NASDAQ:BGNE) Shares Gap Up to $368.89

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $368.89, but opened at $383.00. BeiGene shares last traded at $376.67, with a volume of 6,825 shares trading hands.

A number of research firms have weighed in on BGNE. Zacks Investment Research cut BeiGene from a “hold” rating to a “sell” rating in a research note on Monday, August 16th. SVB Leerink boosted their target price on BeiGene from $388.00 to $417.00 and gave the stock an “outperform” rating in a research note on Monday, June 14th. Finally, Morgan Stanley dropped their price target on shares of BeiGene from $409.00 to $407.00 and set an “overweight” rating on the stock in a research note on Monday, August 16th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $342.38.

The company has a market cap of $34.82 billion, a PE ratio of -25.35 and a beta of 0.88. The stock has a 50 day simple moving average of $313.59 and a two-hundred day simple moving average of $323.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.86 and a quick ratio of 3.77.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Thursday, August 5th. The company reported ($5.23) EPS for the quarter, missing analysts’ consensus estimates of ($3.74) by ($1.49). The business had revenue of $149.99 million during the quarter, compared to analyst estimates of $152.60 million. BeiGene had a negative net margin of 138.52% and a negative return on equity of 33.26%. As a group, equities analysts anticipate that BeiGene, Ltd. will post -12.21 EPS for the current fiscal year.

In other BeiGene news, COO Xiaobin Wu sold 1,156 shares of the company’s stock in a transaction on Friday, June 18th. The shares were sold at an average price of $330.93, for a total transaction of $382,555.08. Also, major shareholder Amgen Inc purchased 165,529 shares of the company’s stock in a transaction dated Friday, September 10th. The shares were purchased at an average price of $302.06 per share, for a total transaction of $49,999,689.74. The disclosure for this purchase can be found here. Insiders sold 363,725 shares of company stock valued at $54,608,208 over the last ninety days. Corporate insiders own 8.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in shares of BeiGene by 22.5% during the 2nd quarter. Parallel Advisors LLC now owns 185 shares of the company’s stock worth $63,000 after purchasing an additional 34 shares during the period. Quadrant Capital Group LLC boosted its holdings in BeiGene by 22.2% during the second quarter. Quadrant Capital Group LLC now owns 226 shares of the company’s stock worth $78,000 after buying an additional 41 shares in the last quarter. Assetmark Inc. grew its position in BeiGene by 18.0% during the first quarter. Assetmark Inc. now owns 229 shares of the company’s stock worth $80,000 after buying an additional 35 shares during the period. The PNC Financial Services Group Inc. increased its holdings in BeiGene by 11.1% in the first quarter. The PNC Financial Services Group Inc. now owns 539 shares of the company’s stock valued at $188,000 after buying an additional 54 shares in the last quarter. Finally, Eaton Vance Management acquired a new stake in shares of BeiGene during the 1st quarter valued at approximately $194,000. Institutional investors own 60.13% of the company’s stock.

BeiGene Company Profile (NASDAQ:BGNE)

BeiGene Ltd. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer. It focuses on Zanubrutinib (BGB-3111), Tislelizumab (BGB-A317), and Pamiparib (BGB-290). The company was founded by Xiao Dong Wang and John V.

Featured Story: The benefits and drawbacks of dollar cost averaging

Receive News & Ratings for BeiGene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeiGene and related companies with MarketBeat.com's FREE daily email newsletter.