Zacks: Brokerages Expect BeiGene, Ltd. (NASDAQ:BGNE) Will Post Earnings of -$3.47 Per Share
Analysts predict that BeiGene, Ltd. (NASDAQ:BGNE) will announce earnings per share (EPS) of ($3.47) for the current quarter, Zacks reports. Two analysts have made estimates for BeiGene’s earnings. The lowest EPS estimate is ($4.77) and the highest is ($1.04). BeiGene reported earnings of ($4.70) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, May 10th.
According to Zacks, analysts expect that BeiGene will report full-year earnings of ($16.60) per share for the current fiscal year, with EPS estimates ranging from ($20.54) to ($7.70). For the next year, analysts forecast that the company will post earnings of ($14.23) per share, with EPS estimates ranging from ($19.90) to ($7.34). Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow BeiGene.
BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Thursday, February 25th. The company reported ($5.20) EPS for the quarter, missing the consensus estimate of ($4.23) by ($0.97). BeiGene had a negative return on equity of 56.81% and a negative net margin of 569.22%.
Several brokerages have recently commented on BGNE. Cowen lifted their price target on shares of BeiGene from $348.00 to $429.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. Morgan Stanley lifted their price target on shares of BeiGene from $310.00 to $375.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. China Renaissance Securities initiated coverage on shares of BeiGene in a report on Monday, March 8th. They set a “buy” rating for the company. CLSA cut shares of BeiGene from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $330.00 to $321.00 in a report on Monday, March 1st. Finally, SVB Leerink boosted their price objective on shares of BeiGene from $240.00 to $327.00 and gave the company an “outperform” rating in a report on Thursday, November 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $310.25.
Shares of NASDAQ:BGNE opened at $321.70 on Friday. BeiGene has a one year low of $118.55 and a one year high of $388.97. The company has a 50 day moving average of $343.19 and a 200-day moving average of $291.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.69 and a quick ratio of 7.64. The stock has a market cap of $29.45 billion, a price-to-earnings ratio of -15.92 and a beta of 0.91.
In other news, CMO Jane Huang sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, January 29th. The shares were sold at an average price of $322.99, for a total value of $484,485.00. Following the completion of the transaction, the chief marketing officer now owns 285,583 shares in the company, valued at $92,240,453.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Howard Liang sold 12,600 shares of the company’s stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $344.90, for a total transaction of $4,345,740.00. Following the completion of the transaction, the chief financial officer now owns 1,573,715 shares of the company’s stock, valued at approximately $542,774,303.50. The disclosure for this sale can be found here. Insiders sold 228,654 shares of company stock valued at $52,967,153 in the last quarter. Corporate insiders own 9.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of BeiGene by 196.0% in the fourth quarter. Baillie Gifford & Co. now owns 4,247,827 shares of the company’s stock worth $1,097,596,000 after purchasing an additional 2,812,638 shares in the last quarter. BlackRock Inc. lifted its position in shares of BeiGene by 15.2% in the fourth quarter. BlackRock Inc. now owns 2,587,165 shares of the company’s stock worth $668,498,000 after purchasing an additional 341,571 shares in the last quarter. Boxer Capital LLC lifted its position in shares of BeiGene by 20.5% in the third quarter. Boxer Capital LLC now owns 1,114,188 shares of the company’s stock worth $319,148,000 after purchasing an additional 189,188 shares in the last quarter. Artal Group S.A. lifted its position in shares of BeiGene by 11.1% in the fourth quarter. Artal Group S.A. now owns 1,000,000 shares of the company’s stock worth $258,390,000 after purchasing an additional 100,000 shares in the last quarter. Finally, State Street Corp lifted its position in shares of BeiGene by 9.8% in the third quarter. State Street Corp now owns 855,928 shares of the company’s stock worth $245,172,000 after purchasing an additional 76,257 shares in the last quarter. 60.65% of the stock is currently owned by institutional investors and hedge funds.
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.
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Published at Sat, 13 Mar 2021 10:18:45 +0000