BeiGene (NASDAQ:BGNE) Shares Gap Up – Time to Buy?

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $192.11, but opened at $201.31. BeiGene shares last traded at $204.37, with a volume of 24,026 shares.

Analysts Set New Price Targets

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

BeiGene Stock Up 7.5 %

The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $211.83 and its 200 day simple moving average is $183.78. The firm has a market cap of $20.12 billion, a P/E ratio of -24.80 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same period in the prior year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, research analysts forecast that BeiGene, Ltd. will post -5.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,070 shares of company stock worth $4,901,050. Corporate insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BGNE. Baillie Gifford & Co. increased its position in shares of BeiGene by 0.6% during the third quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock worth $831,979,000 after acquiring an additional 23,807 shares in the last quarter. FMR LLC boosted its stake in BeiGene by 0.8% during the 3rd quarter. FMR LLC now owns 1,660,011 shares of the company’s stock valued at $372,689,000 after purchasing an additional 12,855 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in BeiGene by 74.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after purchasing an additional 285,784 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BeiGene by 160.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of BeiGene by 1.4% in the second quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock valued at $16,318,000 after purchasing an additional 1,599 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.