BeiGene (NASDAQ:BGNE) Issues Earnings Results, Beats Estimates By $0.66 EPS

BeiGene (NASDAQ:BGNE) released its earnings results on Wednesday. The company reported ($2.41) EPS for the quarter, beating the consensus estimate of ($3.07) by $0.66, Briefing.com reports. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business had revenue of $751.70 million during the quarter, compared to analyst estimates of $670.09 million. During the same period in the prior year, the business earned ($3.34) earnings per share. The business’s quarterly revenue was up 67.9% on a year-over-year basis.

BeiGene Stock Performance

BeiGene stock traded up $3.20 during trading hours on Thursday, hitting $167.64. The stock had a trading volume of 72,702 shares, compared to its average volume of 250,556. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $246.82. The company has a market cap of $16.03 billion, a PE ratio of -19.67 and a beta of 0.63. The company has a 50-day moving average of $154.92 and a two-hundred day moving average of $166.53. The company has a quick ratio of 2.09, a current ratio of 2.32 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein decreased their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research report on Wednesday, March 27th. TD Cowen raised their price target on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America decreased their price target on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. Guggenheim decreased their price target on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. boosted their price target on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $251.93.

Insider Activity

In other BeiGene news, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the sale, the chief executive officer now directly owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO John Oyler sold 37,668 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of the company’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,781 shares of company stock worth $10,222,381. Company insiders own 7.40% of the company’s stock.

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.