FY2024 EPS Estimates for BeiGene Decreased by Analyst

BeiGene, Ltd. (NASDAQ:BGNE) – Equities research analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for BeiGene in a report issued on Tuesday, November 12th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($5.98) per share for the year, down from their previous forecast of ($5.69). The consensus estimate for BeiGene’s current full-year earnings is ($5.00) per share. Leerink Partnrs also issued estimates for BeiGene’s Q4 2024 earnings at ($1.30) EPS.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The business had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the company posted $2.01 EPS.

Several other research firms have also commented on BGNE. JPMorgan Chase & Co. boosted their price target on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. JMP Securities began coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. StockNews.com raised shares of BeiGene from a “hold” rating to a “buy” rating in a research report on Wednesday. Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, TD Cowen raised their price objective on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Stock Performance

NASDAQ:BGNE opened at $193.29 on Friday. The firm’s fifty day simple moving average is $212.91 and its 200 day simple moving average is $181.72. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of -23.46 and a beta of 0.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in BeiGene by 63.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,280 shares of the company’s stock valued at $357,000 after acquiring an additional 887 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of BeiGene in the 1st quarter worth $209,000. Headlands Technologies LLC acquired a new position in BeiGene during the first quarter worth about $50,000. ProShare Advisors LLC raised its position in BeiGene by 8.1% in the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock worth $454,000 after acquiring an additional 217 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of BeiGene by 52.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,661 shares of the company’s stock valued at $885,000 after purchasing an additional 1,942 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Insider Activity at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,070 shares of company stock valued at $4,901,050. Corporate insiders own 7.43% 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.