Zacks Investment Research Downgrades Beigene (BGNE) to Sell
Beigene (NASDAQ:BGNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
BGNE has been the topic of several other reports. Maxim Group restated a “buy” rating and issued a $77.00 price objective on shares of Beigene in a report on Monday, September 11th. Cowen restated a “buy” rating on shares of Beigene in a report on Monday, December 11th. Morgan Stanley restated 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. Robert W. Baird restated 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. Finally, ValuEngine lowered shares of Beigene from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $96.67.
Shares of Beigene (NASDAQ BGNE) traded down $1.11 during mid-day trading on Monday, hitting $97.41. 171,053 shares of the stock traded hands, compared to its average volume of 158,580. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33. Beigene has a 52-week low of $30.37 and a 52-week high of $118.95. The firm has a market cap of $4,430.00 and a price-to-earnings ratio of -74.36.
Beigene (NASDAQ:BGNE) last issued its quarterly earnings data on Monday, November 13th. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $0.23 by $2.31. The company had revenue of $220.21 million during the quarter, compared to analyst estimates of $1.55 million. During the same quarter in the prior year, the company posted ($1.08) earnings per share. analysts forecast that Beigene will post -2.04 EPS for the current fiscal year.
In other Beigene news, CEO John Oyler sold 20,137 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $96.46, for a total transaction of $1,942,415.02. Following the sale, the chief executive officer now directly owns 110,179 shares in the company, valued at approximately $10,627,866.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Jane Huang sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $98.00, for a total transaction of $98,000.00. Following the sale, the chief marketing officer now owns 1,000 shares in the company, valued at $98,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 483,482 shares of company stock worth $42,139,474. 19.90% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Beigene in the 2nd quarter valued at approximately $111,000. Quantbot Technologies LP purchased a new stake in shares of Beigene in the 3rd quarter valued at approximately $160,000. Profund Advisors LLC purchased a new stake in shares of Beigene in the 2nd quarter valued at approximately $248,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Beigene in the 3rd quarter valued at approximately $248,000. Finally, Aperio Group LLC purchased a new stake in shares of Beigene in the 3rd quarter valued at approximately $301,000. 55.32% of the stock is currently owned by institutional investors.
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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