William Blair Analysts Reduce Earnings Estimates for BeiGene, Ltd. (BGNE)
BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at William Blair decreased their Q3 2017 earnings per share (EPS) estimates for BeiGene in a research report issued on Monday. William Blair analyst Y. Xu now forecasts that the company will earn ($1.49) per share for the quarter, down from their previous estimate of ($1.21). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for BeiGene’s Q1 2018 earnings at ($1.32) EPS, Q2 2018 earnings at ($1.39) EPS, Q3 2018 earnings at ($1.47) EPS, Q4 2018 earnings at ($0.42) EPS and FY2018 earnings at ($4.60) EPS.
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A number of other brokerages also recently weighed in on BGNE. Zacks Investment Research upgraded BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Tuesday, July 11th. Maxim Group reiterated a “buy” rating and set a $77.00 price target on shares of BeiGene in a report on Monday. Ladenburg Thalmann Financial Services assumed coverage on BeiGene in a report on Monday, August 7th. They set a “buy” rating and a $81.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $83.00 price target on shares of BeiGene in a report on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $86.00 target price (up previously from $43.00) on shares of BeiGene in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. BeiGene presently has an average rating of “Buy” and an average target price of $77.33.
BeiGene (NASDAQ:BGNE) opened at 75.61 on Wednesday. BeiGene has a 12-month low of $26.43 and a 12-month high of $75.74. The stock’s market capitalization is $3.01 billion. The stock has a 50 day moving average price of $70.36 and a 200-day moving average price of $48.43.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of BeiGene by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,933 shares of the company’s stock worth $4,272,000 after acquiring an additional 2,300 shares in the last quarter. State Street Corp boosted its stake in shares of BeiGene by 14.4% during the 2nd quarter. State Street Corp now owns 36,604 shares of the company’s stock worth $1,647,000 after acquiring an additional 4,619 shares in the last quarter. Hillhouse Capital Management Ltd. boosted its stake in shares of BeiGene by 172.6% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock worth $167,433,000 after acquiring an additional 2,355,906 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of BeiGene during the 2nd quarter worth about $2,855,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of BeiGene by 25.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,496 shares of the company’s stock worth $607,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors own 51.02% of the company’s stock.
In other BeiGene news, Director Xiaodong Wang sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $72.44, for a total value of $1,448,800.00. Following the transaction, the director now owns 16,300 shares in the company, valued at $1,180,772. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Oyler sold 98,500 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $44.16, for a total value of $4,349,760.00. Following the completion of the transaction, the chief executive officer now owns 88,535 shares in the company, valued at approximately $3,909,705.60. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock worth $22,373,260 in the last 90 days. Corporate insiders own 24.20% of the company’s stock.
BeiGene Company Profile
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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