BeiGene (NASDAQ:BGNE) Sees Unusually-High Trading Volume

Shares of BeiGene, Ltd. (NASDAQ:BGNE) saw unusually-strong trading volume on Wednesday . Approximately 143,878 shares traded hands during trading, a decline of 42% from the previous session’s volume of 246,196 shares.The stock last traded at $187.40 and had previously closed at $188.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Cowen lifted their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. upped their price objective on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America decreased their price target on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.81.

BeiGene Price Performance

The stock’s fifty day moving average price is $169.12 and its 200-day moving average price is $161.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The firm has a market cap of $18.42 billion, a PE ratio of -24.87 and a beta of 0.59.

BeiGene (NASDAQ:BGNE) last issued its 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 return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same period last year, the company earned ($3.64) EPS. The company’s revenue for the quarter was up 56.1% on a year-over-year basis. As a group, equities analysts expect that BeiGene, Ltd. will post -5.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Julia Aijun Wang sold 472 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Xiaobin Wu sold 1,459 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.79, for a total transaction of $233,133.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,517 shares of company stock valued at $1,190,004. 7.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BeiGene

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors increased its position in BeiGene by 11.5% during the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of BeiGene by 6.2% during 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 period. Capital International Inc. CA boosted its stake in shares of BeiGene by 6.0% during the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after acquiring an additional 48,615 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of BeiGene in the 2nd quarter worth approximately $54,412,000. Finally, First Trust Advisors LP purchased a new position in BeiGene in the 4th quarter valued at approximately $39,632,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.