BeiGene, Ltd. (NASDAQ:BGNE) Insider Xiaodong Wang Sells 40,468 Shares of Stock

BeiGene, Ltd. (NASDAQ:BGNE) insider Xiaodong Wang sold 40,468 shares of BeiGene stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total transaction of $7,692,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

BeiGene Stock Performance

NASDAQ BGNE opened at $215.00 on Friday. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of -26.09 and a beta of 0.63. The business’s 50 day moving average is $212.42 and its two-hundred day moving average is $184.46. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $248.16. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. During the same quarter in the previous year, the company posted $2.01 EPS. The company’s revenue was up 28.2% compared to the same quarter last year. Research analysts expect that BeiGene, Ltd. will post -5.38 EPS for the current year.

Institutional Trading of BeiGene

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in BeiGene in the third quarter valued at about $1,614,000. Quantinno Capital Management LP purchased a new position in BeiGene in the 3rd quarter valued at approximately $295,000. Point72 Asset Management L.P. raised its holdings in BeiGene by 74.9% during the third quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after purchasing an additional 285,784 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BeiGene during the third quarter worth $67,000. Finally, Erste Asset Management GmbH acquired a new stake in BeiGene in the third quarter valued at $4,478,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BGNE. StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. JMP Securities began coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. Citigroup upped their price objective on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. TD Cowen lifted their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their price target on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $247.07.

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.