BeiGene (NASDAQ:BGNE) Trading 4.3% Higher After Analyst Upgrade

Shares of BeiGene, Ltd. (NASDAQ:BGNE) shot up 4.3% on Thursday after TD Cowen raised their price target on the stock from $235.00 to $236.00. TD Cowen currently has a buy rating on the stock. BeiGene traded as high as $150.38 and last traded at $150.34. 109,824 shares traded hands during trading, a decline of 57% from the average session volume of 255,402 shares. The stock had previously closed at $144.12.

A number of other research analysts also recently weighed in on the company. Bank of America dropped their price target on BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their price target on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Guggenheim lowered their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Sanford C. Bernstein lowered their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $250.13.

Insider Activity

In other news, CFO Julia Aijun Wang sold 397 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Julia Aijun Wang sold 397 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 26,716 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the transaction, the chief executive officer now directly owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The disclosure for this sale can be found here. Insiders sold a total of 64,781 shares of company stock valued at $10,222,381 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors grew its holdings 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 period. Baillie Gifford & Co. grew its holdings 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 period. FMR LLC grew its holdings in BeiGene by 3.0% during the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after purchasing an additional 69,297 shares during the period. First Trust Advisors LP bought a new position in BeiGene during the fourth quarter valued at $39,632,000. Finally, Goldman Sachs Group Inc. grew its holdings in BeiGene by 175.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock valued at $38,658,000 after purchasing an additional 136,458 shares during the period. 48.55% of the stock is owned by institutional investors.

BeiGene Price Performance

The firm has a fifty day simple moving average of $154.68 and a two-hundred day simple moving average of $167.53. 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 for the quarter, beating the consensus estimate of ($3.61) by $0.08. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The business had revenue of $634.40 million during the quarter, compared to analyst estimates of $632.52 million. During the same period in the prior year, the company earned ($4.29) earnings per share. BeiGene’s revenue was up 66.9% compared to the same quarter last year. Analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current year.

BeiGene Company Profile

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.