Beigene (NASDAQ:BGNE) Downgraded by BidaskClub to Hold

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Beigene (NASDAQ:BGNE) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other equities research analysts have also commented on the company. Bank of America restated a “buy” rating and set a $230.00 target price on shares of Beigene in a research report on Monday, November 18th. Morgan Stanley lowered their target price on Beigene from $201.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Guggenheim reissued a “buy” rating and issued a $228.00 price target (up from $205.00) on shares of Beigene in a research note on Friday, November 15th. Cowen increased their price target on Beigene from $170.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, ValuEngine cut Beigene from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Beigene presently has an average rating of “Buy” and an average target price of $208.00.

BGNE stock opened at $186.92 on Friday. The company has a quick ratio of 5.26, a current ratio of 5.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -15.38 and a beta of 1.18. The company’s fifty day simple moving average is $179.72 and its 200 day simple moving average is $141.35. Beigene has a 12-month low of $108.00 and a 12-month high of $210.35.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($5.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.56) by ($1.55). Beigene had a negative return on equity of 53.11% and a negative net margin of 192.75%. The business had revenue of $50.14 million for the quarter, compared to analyst estimates of $65.43 million. During the same quarter in the previous year, the business posted ($2.53) earnings per share. The business’s revenue was down 7.5% on a year-over-year basis. Research analysts expect that Beigene will post -12.85 earnings per share for the current year.

In other Beigene news, insider Xiaodong Wang sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $190.00, for a total value of $190,000.00. Following the completion of the sale, the insider now owns 7,585,628 shares of the company’s stock, valued at $1,441,269,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Liang sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $194.34, for a total value of $4,858,500.00. Following the completion of the sale, the chief financial officer now directly owns 122,317 shares of the company’s stock, valued at approximately $23,771,085.78. The disclosure for this sale can be found here. Insiders have sold 73,704 shares of company stock worth $14,139,047 in the last quarter. Company insiders own 10.70% of the company’s stock.

Several large investors have recently modified their holdings of BGNE. Capital Investment Advisory Services LLC bought a new position in shares of Beigene in the 2nd quarter worth $26,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Beigene by 24.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock worth $55,000 after acquiring an additional 88 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Beigene by 28.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock worth $56,000 after acquiring an additional 100 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Beigene in the 3rd quarter worth about $58,000. Finally, Tower Research Capital LLC TRC lifted its position in Beigene by 1,500.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 592 shares of the company’s stock valued at $73,000 after acquiring an additional 555 shares in the last quarter.

About Beigene

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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Analyst Recommendations for Beigene (NASDAQ:BGNE)

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