Beigene (NASDAQ:BGNE) Downgraded by Zacks Investment Research
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 research firms have also issued reports on BGNE. BidaskClub lowered Waterstone Financial from a hold rating to a sell rating in a report on Friday, June 21st. Sanford C. Bernstein assumed coverage on Beigene in a report on Tuesday, June 4th. They issued an outperform rating and a $201.00 target price for the company. Bank of America reiterated a neutral rating and issued a $25.00 target price (up from $22.00) on shares of Pivotal Software in a report on Friday, March 15th. Morgan Stanley set a $61.00 target price on Walgreens Boots Alliance and gave the company a hold rating in a report on Tuesday, May 14th. Finally, Macquarie assumed coverage on Baozun in a report on Friday, July 5th. They issued a buy rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $182.38.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($2.81) EPS for the quarter, topping the consensus estimate of ($3.15) by $0.34. The business had revenue of $77.83 million during the quarter, compared to analyst estimates of $55.79 million. Beigene had a negative return on equity of 44.75% and a negative net margin of 302.58%. The company’s quarterly revenue was up 139.2% on a year-over-year basis. During the same period last year, the business posted ($2.03) earnings per share. Research analysts expect that Beigene will post -12.95 earnings per share for the current year.
In other news, CMO Jane Huang sold 430 shares of Beigene stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $124.52, for a total transaction of $53,543.60. Following the sale, the chief marketing officer now owns 3 shares in the company, valued at $373.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Oyler sold 3,106 shares of Beigene stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $126.87, for a total value of $394,058.22. Following the sale, the chief executive officer now owns 17,221,155 shares in the company, valued at approximately $2,184,847,934.85. The disclosure for this sale can be found here. Insiders have sold 63,365 shares of company stock worth $7,385,178 in the last quarter. Insiders own 13.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of BGNE. Neuburgh Advisers LLC acquired a new position in Beigene in the 4th quarter valued at about $27,000. Advisor Group Inc. increased its position in Beigene by 301.4% in the 4th quarter. Advisor Group Inc. now owns 285 shares of the company’s stock valued at $40,000 after acquiring an additional 214 shares during the period. PNC Financial Services Group Inc. acquired a new position in Beigene in the 4th quarter valued at about $46,000. Quadrant Capital Group LLC increased its position in Beigene by 131.8% in the 1st quarter. Quadrant Capital Group LLC now owns 364 shares of the company’s stock valued at $47,000 after acquiring an additional 207 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in Beigene in the 1st quarter valued at about $76,000.
Beigene Company Profile
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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