Beigene (BGNE) Rating Lowered to Sell at Zacks Investment Research

Beigene (NASDAQ:BGNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, January 8th.

According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “

A number of other analysts have also commented on the stock. Cowen reissued a “buy” rating on shares of Beigene in a research report on Monday, January 8th. BidaskClub raised shares of Beigene from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Maxim Group set a $120.00 price target on shares of Beigene and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. ValuEngine downgraded shares of Beigene from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Robert W. Baird restated a “neutral” rating and issued a $83.00 price target (up from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Beigene presently has a consensus rating of “Hold” and a consensus price target of $96.67.

Beigene (BGNE) traded down $0.42 during trading on Monday, hitting $102.86. 233,300 shares of the stock traded hands, compared to its average volume of 186,190. The firm has a market capitalization of $4,640.00 and a PE ratio of -78.52. Beigene has a 12 month low of $31.70 and a 12 month high of $118.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.33 and a quick ratio of 9.27.

Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $2.31. The company had revenue of $220.21 million during the quarter, compared to analyst estimates of $1.55 million. During the same quarter last year, the company earned ($1.08) EPS. equities research analysts forecast that Beigene will post -2.04 EPS for the current fiscal year.

In other news, CMO Amy C. Peterson sold 3,601 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $82.96, for a total transaction of $298,738.96. Following the completion of the sale, the chief marketing officer now owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Oyler sold 150,957 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the sale, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at approximately $39,597,225.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 483,482 shares of company stock worth $42,139,474. 19.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its position in Beigene by 3.8% in the 4th quarter. Bank of Montreal Can now owns 16,186 shares of the company’s stock valued at $1,581,000 after purchasing an additional 600 shares during the period. Belpointe Asset Management LLC purchased a new position in Beigene during the 3rd quarter worth $1,642,000. California Public Employees Retirement System purchased a new position in Beigene during the 3rd quarter worth $4,912,000. Perceptive Advisors LLC purchased a new position in Beigene during the 3rd quarter worth $590,000. Finally, Orbimed Advisors LLC boosted its holdings in Beigene by 2.0% during the 3rd quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock worth $135,925,000 after acquiring an additional 26,200 shares during the last quarter. 55.32% of the stock is owned by institutional investors and hedge funds.

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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.

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