BeiGene (NASDAQ:BGNE) Shares Down 2.4%

BeiGene, Ltd. (NASDAQ:BGNE) shares traded down 2.4% on Friday . The company traded as low as $126.97 and last traded at $128.77. 17,319 shares were traded during trading, a decline of 93% from the average session volume of 256,444 shares. The stock had previously closed at $131.96.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Sanford C. Bernstein dropped their price objective on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Guggenheim dropped their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Bank of America dropped their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and a consensus target price of $251.70.

BeiGene Price Performance

The company’s 50 day moving average price is $155.43 and its 200-day moving average price is $168.61. 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 announced its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.08. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $632.52 million. During the same period in the previous year, the company earned ($4.29) EPS. The business’s quarterly revenue was up 66.9% compared to the same quarter last year. As a group, sell-side analysts expect that BeiGene, Ltd. will post -8.87 EPS for the current fiscal year.

Insider Activity at BeiGene

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Oyler sold 26,716 shares of the business’s stock in a transaction 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. In the last 90 days, insiders have sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of BeiGene

A number of institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its stake in BeiGene by 17.9% during the third quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock valued at $696,384,000 after purchasing an additional 588,294 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in BeiGene by 68.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 775,857 shares of the company’s stock valued at $167,222,000 after purchasing an additional 314,764 shares during the last quarter. Capital International Investors lifted its stake in BeiGene by 4.7% during the fourth quarter. Capital International Investors now owns 6,336,872 shares of the company’s stock valued at $1,142,636,000 after purchasing an additional 285,397 shares during the last quarter. First Trust Advisors LP acquired a new stake in BeiGene during the fourth quarter valued at approximately $39,632,000. Finally, BlackRock Inc. lifted its stake in BeiGene by 23.1% during the second quarter. BlackRock Inc. now owns 868,757 shares of the company’s stock valued at $154,899,000 after purchasing an additional 162,949 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.