BeiGene (NASDAQ:BGNE) Shares Up 2%

BeiGene, Ltd. (NASDAQ:BGNE)’s share price shot up 2% during mid-day trading on Monday . The stock traded as high as $166.52 and last traded at $166.52. 12,867 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 233,200 shares. The stock had previously closed at $163.23.

Wall Street Analyst Weigh In

BGNE has been the subject of several analyst reports. Bank of America reduced their price target on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. TD Cowen lifted their price objective on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $250.75.

BeiGene Stock Up 3.2 %

The company has a market cap of $17.13 billion, a PE ratio of -23.35 and a beta of 0.59. The company has a fifty day moving average of $155.02 and a two-hundred day moving average of $155.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share for the quarter, beating the consensus estimate of ($3.07) by $0.66. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The business had revenue of $751.70 million for the quarter, compared to the consensus estimate of $670.09 million. During the same quarter in the prior year, the firm posted ($3.34) earnings per share. The business’s revenue for the quarter was up 67.9% on a year-over-year basis. As a group, analysts anticipate that BeiGene, Ltd. will post -7.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, CFO Julia Aijun Wang sold 472 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total value of $67,920.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Xiaobin Wu sold 1,459 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The disclosure for this sale can be found here. Insiders sold a total of 7,517 shares of company stock valued at $1,190,004 over the last 90 days. Insiders own 7.43% of the company’s stock.

Institutional Trading of BeiGene

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its holdings in shares of BeiGene by 0.4% during the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after purchasing an additional 76 shares during the last quarter. NewEdge Wealth LLC lifted its stake in shares of BeiGene by 7.5% in the 4th quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock valued at $291,000 after purchasing an additional 112 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in BeiGene by 9.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,601 shares of the company’s stock worth $289,000 after buying an additional 139 shares in the last quarter. Parkwood LLC grew its position in BeiGene by 3.0% during the fourth quarter. Parkwood LLC now owns 6,464 shares of the company’s stock valued at $1,166,000 after buying an additional 191 shares during the period. Finally, ProShare Advisors LLC increased its holdings in BeiGene by 8.1% in the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 48.55% 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.