SVB Leerink Research Analysts Raise Earnings Estimates for BeiGene, Ltd. (NASDAQ:BGNE)
BeiGene, Ltd. (NASDAQ:BGNE) – Stock analysts at SVB Leerink upped their FY2021 earnings estimates for shares of BeiGene in a note issued to investors on Thursday, November 19th. SVB Leerink analyst A. Berens now anticipates that the company will post earnings of ($17.08) per share for the year, up from their prior forecast of ($17.18). SVB Leerink currently has a “Outperform” rating and a $327.00 price target on the stock. SVB Leerink also issued estimates for BeiGene’s FY2022 earnings at ($14.56) EPS, FY2023 earnings at ($10.69) EPS and FY2024 earnings at ($3.29) EPS.
BGNE has been the subject of several other reports. Maxim Group downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Friday, November 6th. Piper Sandler downgraded shares of BeiGene from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $175.00 to $185.00 in a research report on Friday, November 6th. LADENBURG THALM/SH SH cut shares of BeiGene from a “buy” rating to a “neutral” rating in a research note on Monday, November 9th. ValuEngine cut shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. Finally, Morgan Stanley boosted their price objective on shares of BeiGene from $270.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $247.03.
BGNE stock opened at $284.17 on Monday. The company has a quick ratio of 7.64, a current ratio of 7.69 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of -14.06 and a beta of 1.20. BeiGene has a 12 month low of $118.55 and a 12 month high of $322.98. The firm has a 50 day moving average of $296.35 and a two-hundred day moving average of $229.67. BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($4.81) EPS for the quarter, missing the Zacks’ consensus estimate of ($4.12) by ($0.69). BeiGene had a negative net margin of 569.22% and a negative return on equity of 56.81%.
A number of large investors have recently modified their holdings of BGNE. BlackRock Inc. boosted its stake in shares of BeiGene by 2.9% in the 3rd quarter. BlackRock Inc. now owns 2,245,594 shares of the company’s stock valued at $643,228,000 after purchasing an additional 63,336 shares during the last quarter. Boxer Capital LLC raised its position in shares of BeiGene by 20.5% in the 3rd quarter. Boxer Capital LLC now owns 1,114,188 shares of the company’s stock valued at $319,148,000 after acquiring an additional 189,188 shares during the period. State Street Corp raised its position in shares of BeiGene by 9.8% in the 3rd quarter. State Street Corp now owns 855,928 shares of the company’s stock valued at $245,172,000 after acquiring an additional 76,257 shares during the period. Artal Group S.A. raised its position in shares of BeiGene by 30.8% in the 2nd quarter. Artal Group S.A. now owns 850,000 shares of the company’s stock valued at $160,140,000 after acquiring an additional 200,000 shares during the period. Finally, Sands Capital Management LLC raised its position in shares of BeiGene by 30.8% in the 3rd quarter. Sands Capital Management LLC now owns 466,595 shares of the company’s stock valued at $133,651,000 after acquiring an additional 109,754 shares during the period. 52.61% of the stock is currently owned by hedge funds and other institutional investors.
In other BeiGene news, insider Xiaodong Wang sold 5,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $260.27, for a total transaction of $1,301,350.00. Following the sale, the insider now owns 7,201,009 shares of the company’s stock, valued at approximately $1,874,206,612.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Jane Huang sold 1,500 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $300.06, for a total transaction of $450,090.00. Following the sale, the chief marketing officer now directly owns 285,583 shares in the company, valued at approximately $85,692,034.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,448 shares of company stock worth $60,299,909. 9.00% of the stock is owned by insiders.
About BeiGene
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology cancer therapeutics in the People’s Republic of China, the United States, and internationally. Its commercial products include BRUKINSA to treat R/R mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin’s lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; KYPROLIS to treat multiple myeloma; BLINCYTO to treat acute lymphocytic leukemia; SYLVANT to treat idiopathic multicentric castleman disease; and QARZIBA to treat neuroblastoma.
Featured Story: Liquidity
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Cloud Computing Stocks to Lift Your Portfolio to New Heights
Cloud computing sounds complicated, and it has become more sophisticated as it evolves. However, the basic idea behind the cloud is the same. The “cloud” is a euphemistic term for the delivery of different services via the internet. In its early days, the cloud was used exclusively for data storage. Here’s an easy example of why this was important.
Back when the internet was just cutting its teeth, I worked in marketing communications. The need to comply with Total Quality Control Systems (TQCS) for our largest clients meant that we had to save every version of our files. Every. Single. One.
Now imagine that you’re producing a 120-page product catalog complete with photos and charts. Your hard drive is burning up just thinking about it. Yet that “data” had to be stored somewhere. And so we had a virtual server farm to try to warehouse all these graphic intensive (and memory sucking) files until we could archive them.
Other than the storage nightmare, consider that it was a pain to work remotely. You could copy a file from the server, but then were you working on the right file? I’m sure there’s at least one person reading this who remembers this pain.
The cloud takes that away. Cloud computing allows you to store files on a secure, remote server that everyone can access from anywhere they have an internet connection. But it’s become so much more than that. Cloud computing now gives businesses a platform from which they can create applications and software. If that sounds confusing, I hope to simplify it in this presentation.
To help you understand which cloud computing stocks you may want to add to your portfolio, we’ve created this special presentation. These are seven of the cloud computing stocks that will continue to grow with the sector.
View the “7 Cloud Computing Stocks to Lift Your Portfolio to New Heights”.
Published at Mon, 23 Nov 2020 06:45:00 +0000