Xiaodong Wang Sells 40,468 Shares of BeiGene, Ltd. (NASDAQ:BGNE) Stock

BeiGene, Ltd. (NASDAQ:BGNE) insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $190.10, for a total transaction of $7,692,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BeiGene Price Performance

Shares of BGNE stock traded up $8.84 during mid-day trading on Friday, hitting $215.00. The company had a trading volume of 258,572 shares, compared to its average volume of 266,091. The company has a market capitalization of $20.94 billion, a P/E ratio of -26.09 and a beta of 0.63. The stock’s 50 day moving average price is $212.42 and its 200-day moving average price is $184.46. BeiGene, Ltd. has a 52-week low of $126.97 and a 52-week high of $248.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. During the same period last year, the company earned $2.01 EPS. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. Equities research analysts forecast that BeiGene, Ltd. will post -5.38 earnings per share for the current year.

Hedge Funds Weigh In On BeiGene

Several institutional investors have recently added to or reduced their stakes in BGNE. XTX Topco Ltd bought a new position in BeiGene during the third quarter valued at $1,614,000. Quantinno Capital Management LP purchased a new stake in shares of BeiGene during the 3rd quarter valued at about $295,000. Point72 Asset Management L.P. lifted its holdings in shares of BeiGene by 74.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock valued at $149,785,000 after acquiring an additional 285,784 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in BeiGene in the third quarter worth about $67,000. Finally, Erste Asset Management GmbH bought a new stake in BeiGene during the third quarter worth approximately $4,478,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BGNE. TD Cowen lifted their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Citigroup upped their price target on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. Finally, StockNews.com lowered shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $247.07.

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.