BeiGene (NASDAQ:BGNE) Given New $236.00 Price Target at TD Cowen

BeiGene (NASDAQ:BGNE) had its price target increased by TD Cowen from $235.00 to $236.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 64.59% from the stock’s current price.

BGNE has been the topic of several other reports. Sanford C. Bernstein lowered their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Bank of America dropped their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their target price on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, Guggenheim dropped their price target on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.13.

BeiGene Stock Performance

BGNE traded up $4.40 during midday trading on Wednesday, reaching $143.39. The company had a trading volume of 112,294 shares, compared to its average volume of 256,079. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. The stock has a market cap of $13.71 billion, a PE ratio of -16.82 and a beta of 0.61. The business has a 50-day moving average price of $154.71 and a two-hundred day moving average price of $167.69. BeiGene has a 12-month low of $126.97 and a 12-month high of $266.67.

BeiGene (NASDAQ:BGNE) last released its earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $632.52 million. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The business’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same period last year, the business posted ($4.29) earnings per share. On average, sell-side analysts expect that BeiGene will post -8.87 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In related news, CEO John Oyler sold 26,716 shares of the 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 sale, the chief executive officer now directly owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other BeiGene news, CEO John Oyler sold 26,716 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the transaction, the chief executive officer now owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,781 shares of company stock worth $10,222,381. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of BeiGene by 57.4% in the third quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after acquiring an additional 20,239 shares during the period. XY Capital Ltd boosted its stake in BeiGene by 1,205.3% in the 3rd quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock worth $2,773,000 after purchasing an additional 14,235 shares during the period. FMR LLC grew its holdings in BeiGene by 3.0% during the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after buying an additional 69,297 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in BeiGene by 53.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock valued at $8,397,000 after buying an additional 16,295 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of BeiGene by 91.9% during the third quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock valued at $18,033,000 after buying an additional 48,018 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.