Beigene (BGNE) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Beigene (NASDAQ:BGNE) from a hold rating to a buy rating in a research report released on Friday, January 5th.

BGNE has been the topic of several other research reports. Zacks Investment Research upgraded shares of Beigene from a hold rating to a buy rating and set a $115.00 price objective on the stock in a report on Tuesday, October 3rd. Maxim Group reaffirmed a buy rating and issued a $77.00 target price on shares of Beigene in a research note on Monday, September 11th. Cowen reaffirmed a buy rating on shares of Beigene in a research note on Monday, December 11th. Morgan Stanley reaffirmed an overweight rating and issued a $95.00 target price (up from $87.00) on shares of Beigene in a research note on Friday, October 6th. Finally, Robert W. Baird reissued a neutral rating and set a $83.00 price objective (up from $58.00) on shares of Beigene in a research report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $96.67.

Beigene (BGNE) traded up $1.44 on Friday, hitting $103.28. 140,600 shares of the company were exchanged, compared to its average volume of 180,956. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33. The stock has a market capitalization of $4,695.83, a P/E ratio of -79.45 and a beta of -1.03. Beigene has a one year low of $31.70 and a one year high of $118.95.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $2.31. The business had revenue of $220.21 million during the quarter, compared to analysts’ expectations of $1.55 million. During the same period in the previous year, the business posted ($1.08) EPS. research analysts predict that Beigene will post -2.04 EPS for the current fiscal year.

In other Beigene news, CEO John Oyler sold 150,957 shares of Beigene stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total value of $12,152,038.50. Following the completion of the transaction, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at approximately $39,597,225.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Jane Huang sold 600 shares of Beigene stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $85.00, for a total value of $51,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 264,900 shares of the company’s stock, valued at $22,516,500. The disclosure for this sale can be found here. Insiders have sold a total of 483,482 shares of company stock valued at $42,139,474 over the last three months. Corporate insiders own 19.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGNE. First Trust Advisors LP grew its position in Beigene by 2.2% in the 2nd quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock valued at $2,199,000 after acquiring an additional 1,029 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Beigene in the second quarter valued at about $111,000. Alliancebernstein L.P. acquired a new stake in shares of Beigene in the second quarter valued at about $7,373,000. Baillie Gifford & Co. grew its stake in shares of Beigene by 5.0% in the second quarter. Baillie Gifford & Co. now owns 74,424 shares of the company’s stock valued at $3,349,000 after buying an additional 3,559 shares in the last quarter. Finally, Profund Advisors LLC acquired a new stake in shares of Beigene in the second quarter valued at about $248,000. 55.32% of the stock is owned by institutional investors.

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About Beigene

BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.

Analyst Recommendations for Beigene (NASDAQ:BGNE)

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