Beigene (BGNE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Beigene (NASDAQ:BGNE) from a hold rating to a sell rating in a research note released on Monday morning.

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. “

Several other research firms also recently weighed in on BGNE. Morgan Stanley reiterated an overweight rating and issued a $95.00 price target (up from $87.00) on shares of Beigene in a research report on Friday, October 6th. Maxim Group set a $120.00 price objective on shares of Beigene and gave the stock a buy rating in a research note on Wednesday, January 3rd. ValuEngine cut shares of Beigene from a hold rating to a sell rating in a research note on Wednesday, January 3rd. BidaskClub raised shares of Beigene from a hold rating to a buy rating in a research note on Friday, January 5th. Finally, Cowen reissued a buy rating on shares of Beigene in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $96.67.

Beigene (NASDAQ BGNE) traded up $1.44 on Monday, reaching $103.28. 140,662 shares of the company’s stock traded hands, compared to its average volume of 180,956. 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 $31.70 and a fifty-two week high of $118.95. The company has a market capitalization of $4,700.00 and a P/E ratio of -78.84.

Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $2.31. The business had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same quarter in the previous year, the business posted ($1.08) earnings per share. research analysts expect that Beigene will post -2.04 earnings per share for the current year.

In related news, CMO Jane Huang sold 600 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $85.00, for a total transaction of $51,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 264,900 shares of the company’s stock, valued at $22,516,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Oyler sold 150,957 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the transaction, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at $39,597,225.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 483,482 shares of company stock valued at $42,139,474. Corporate insiders own 19.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Employees Retirement System of Texas purchased a new position in Beigene during the second quarter valued at $2,855,000. Alps Advisors Inc. grew its stake in Beigene by 15.9% during the third quarter. Alps Advisors Inc. now owns 41,739 shares of the company’s stock valued at $4,318,000 after acquiring an additional 5,732 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Beigene by 25.0% during the second quarter. Parametric Portfolio Associates LLC now owns 13,496 shares of the company’s stock valued at $607,000 after acquiring an additional 2,700 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Beigene during the third quarter valued at $1,642,000. Finally, Westpac Banking Corp purchased a new position in Beigene during the third quarter valued at $662,000. 55.32% of the stock is owned by institutional investors.

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About Beigene

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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