BeiGene, Ltd. (NASDAQ:BGNE) to Post Q2 2024 Earnings of ($2.26) Per Share, Leerink Partnrs Forecasts

BeiGene, Ltd. (NASDAQ:BGNE) – Analysts at Leerink Partnrs lifted their Q2 2024 earnings estimates for shares of BeiGene in a research note issued to investors on Wednesday, July 24th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($2.26) for the quarter, up from their previous estimate of ($2.36). The consensus estimate for BeiGene’s current full-year earnings is ($8.23) per share. Leerink Partnrs also issued estimates for BeiGene’s Q3 2024 earnings at ($2.18) EPS, Q4 2024 earnings at ($2.10) EPS, FY2024 earnings at ($8.95) EPS, FY2025 earnings at ($4.60) EPS, FY2026 earnings at $2.45 EPS and FY2027 earnings at $7.59 EPS.

Other equities research analysts have also recently issued reports about the company. Bank of America decreased their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. TD Cowen boosted their price objective on shares of BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $250.75.

BeiGene Stock Performance

Shares of BGNE opened at $162.54 on Friday. BeiGene has a 52-week low of $126.97 and a 52-week high of $225.23. The stock’s 50-day simple moving average is $154.57 and its 200 day simple moving average is $155.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.84 and a current ratio of 2.08. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of -21.47 and a beta of 0.59.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, May 8th. The company reported ($2.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.07) by $0.66. The firm had revenue of $751.70 million for the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The business’s quarterly revenue was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($3.34) earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors boosted its stake in shares of BeiGene by 11.5% in the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. First Trust Advisors LP bought a new position in shares of BeiGene during the fourth quarter valued at about $39,632,000. M&G Plc bought a new position in shares of BeiGene during the first quarter valued at about $29,649,000. Goldman Sachs Group Inc. increased its holdings in shares of BeiGene by 175.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after buying an additional 136,458 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock valued at $316,862,000 after acquiring an additional 117,905 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BeiGene

In other news, CFO Julia Aijun Wang sold 899 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $155.66, for a total value of $139,938.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Xiaobin Wu sold 1,459 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.79, for a total transaction of $233,133.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Julia Aijun Wang sold 899 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $155.66, for a total value of $139,938.34. The disclosure for this sale can be found here. Insiders sold a total of 6,683 shares of company stock worth $1,056,089 over the last three months. 7.43% of the stock is owned by insiders.

BeiGene Company Profile

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.