Beigene (BGNE) Cut to “Sell” at ValuEngine
ValuEngine lowered shares of Beigene (NASDAQ:BGNE) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
Other analysts have also issued reports about the company. Maxim Group set a $120.00 price objective on Beigene and gave the company a buy rating in a report on Monday, December 18th. Robert W. Baird reissued a neutral rating and issued a $83.00 price objective (up from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Cowen reissued a buy rating on shares of Beigene in a report on Tuesday, November 14th. Morgan Stanley reissued an overweight rating and issued a $95.00 price objective (up from $87.00) on shares of Beigene in a report on Friday, October 6th. Finally, Zacks Investment Research lowered Beigene from a hold rating to a sell rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Beigene presently has a consensus rating of Buy and an average price target of $96.67.
Shares of Beigene (NASDAQ BGNE) opened at $98.52 on Wednesday. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20. Beigene has a fifty-two week low of $30.02 and a fifty-two week high of $118.95.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $2.31. The firm had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same period in the prior year, the firm earned ($1.08) earnings per share. research analysts anticipate that Beigene will post -2.04 EPS for the current fiscal year.
In other news, CEO John Oyler sold 150,957 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the transaction, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at $39,597,225.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jane Huang sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $98.00, for a total value of $98,000.00. Following the transaction, the chief marketing officer now directly owns 1,000 shares of the company’s stock, valued at $98,000. The disclosure for this sale can be found here. Insiders have sold 483,482 shares of company stock valued at $42,139,474 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.
Several large investors have recently bought and sold shares of BGNE. SG Americas Securities LLC bought a new position in shares of Beigene during the second quarter valued at approximately $111,000. Quantbot Technologies LP bought a new position in shares of Beigene during the third quarter valued at approximately $160,000. Profund Advisors LLC bought a new position in shares of Beigene during the second quarter valued at approximately $248,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Beigene during the third quarter valued at approximately $248,000. Finally, Aperio Group LLC bought a new position in shares of Beigene during the third quarter valued at approximately $301,000. 55.32% of the stock is owned by institutional investors.
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Beigene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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