Beigene (BGNE) Stock Price Up 5.1% on Analyst Upgrade
Beigene Ltd (NASDAQ:BGNE) shares rose 5.1% on Wednesday after Morgan Stanley raised their price target on the stock from $93.00 to $200.00. Morgan Stanley currently has an overweight rating on the stock. Beigene traded as high as $177.00 and last traded at $180.90. Approximately 365,590 shares traded hands during trading, a decline of 5% from the average daily volume of 384,547 shares. The stock had previously closed at $172.17.
Several other brokerages also recently commented on BGNE. Maxim Group set a $120.00 target price on shares of Beigene and gave the stock a “buy” rating in a report on Monday, December 11th. Cowen reiterated a “buy” rating on shares of Beigene in a report on Monday, December 11th. ValuEngine downgraded shares of Beigene from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Finally, Zacks Investment Research downgraded shares of Beigene from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Beigene currently has a consensus rating of “Buy” and a consensus price target of $145.17.
In related news, Director Bros. Advisors Lp Baker acquired 1,980,198 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were bought at an average price of $101.00 per share, for a total transaction of $199,999,998.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Oyler sold 20,137 shares of the business’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $96.46, for a total transaction of $1,942,415.02. Following the transaction, the chief executive officer now owns 110,179 shares in the company, valued at approximately $10,627,866.34. The disclosure for this sale can be found here. Insiders sold a total of 214,347 shares of company stock worth $30,984,091 in the last quarter. Insiders own 19.90% of the company’s stock.
The company has a current ratio of 6.09, a quick ratio of 6.02 and a debt-to-equity ratio of 0.23. The company has a market cap of $9,222.29, a PE ratio of -67.37 and a beta of 0.58.
Beigene (NASDAQ:BGNE) last issued its earnings results on Wednesday, February 28th. The company reported ($2.19) earnings per share for the quarter, missing the consensus estimate of ($1.79) by ($0.40). The firm had revenue of $18.17 million for the quarter, compared to analyst estimates of $23.00 million. equities analysts expect that Beigene Ltd will post -7.69 earnings per share for the current fiscal year.
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.
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