BeiGene (NASDAQ:BGNE) Issues Earnings Results, Beats Expectations By $0.66 EPS

BeiGene (NASDAQ:BGNE) posted its quarterly earnings results on Wednesday. The company reported ($2.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.07) by $0.66, Briefing.com reports. The firm had revenue of $751.70 million during the quarter, compared to analyst estimates of $670.09 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The company’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.34) earnings per share.

BeiGene Stock Up 2.6 %

Shares of NASDAQ:BGNE opened at $168.64 on Friday. The company has a 50 day moving average price of $154.98 and a two-hundred day moving average price of $166.55. The company has a market capitalization of $16.13 billion, a PE ratio of -19.84 and a beta of 0.63. BeiGene has a 52 week low of $126.97 and a 52 week high of $246.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BGNE. Sanford C. Bernstein lowered their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 27th. Guggenheim dropped their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. TD Cowen increased their target price on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America dropped their target price on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $251.93.

Insider Activity

In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Oyler sold 26,716 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the transaction, the chief executive officer now owns 12,084 shares of the company’s stock, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. Insiders sold 64,781 shares of company stock valued at $10,222,381 in the last quarter. Company insiders own 7.40% of the company’s stock.

About BeiGene

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.