BeiGene (NASDAQ:BGNE) Shares Gap Down to $211.15

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $211.15, but opened at $199.00. BeiGene shares last traded at $199.07, with a volume of 174,022 shares traded.

Analyst Ratings Changes

Several research firms have issued reports on BGNE. Citigroup upped their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America reduced 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. Finally, JPMorgan Chase & Co. boosted their price objective on BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.07.

BeiGene Trading Down 7.2 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. The stock has a market capitalization of $18.99 billion, a P/E ratio of -26.10 and a beta of 0.61. The stock has a 50-day moving average price of $175.16 and a two-hundred day moving average price of $163.01.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same period in the prior year, the firm earned ($3.64) earnings per share. BeiGene’s revenue was up 56.1% on a year-over-year basis. On average, research analysts forecast that BeiGene, Ltd. will post -5.13 EPS for the current fiscal year.

Insider Transactions at BeiGene

In other BeiGene news, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The disclosure for this sale can be found here. Insiders have sold 13,210 shares of company stock valued at $2,269,721 in the last three months. 7.43% of the stock is currently owned by company insiders.

Institutional Trading of BeiGene

Several hedge funds have recently bought and sold shares of BGNE. Sanctuary Advisors LLC purchased a new stake in shares of BeiGene in the second quarter worth $1,038,000. Truist Financial Corp boosted its stake in BeiGene by 10.1% during the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of BeiGene in the second quarter valued at $1,168,000. The Manufacturers Life Insurance Company increased its holdings in shares of BeiGene by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after buying an additional 3,915 shares during the last quarter. Finally, Affinity Asset Advisors LLC raised its position in shares of BeiGene by 33.9% during the 2nd quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company’s stock valued at $15,694,000 after buying an additional 27,857 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

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.