Analysts expect Beigene Ltd (NASDAQ:BGNE) to announce earnings per share (EPS) of ($3.38) for the current quarter, Zacks reports. Three analysts have issued estimates for Beigene’s earnings, with the lowest EPS estimate coming in at ($3.60) and the highest estimate coming in at ($3.04). Beigene reported earnings of ($2.03) per share during the same quarter last year, which suggests a negative year over year growth rate of 66.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 8th.
On average, analysts expect that Beigene will report full-year earnings of ($14.21) per share for the current financial year, with EPS estimates ranging from ($16.01) to ($11.47). For the next fiscal year, analysts anticipate that the business will post earnings of ($14.10) per share, with EPS estimates ranging from ($16.35) to ($10.59). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Beigene.
Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, February 27th. The company reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.87) by ($1.65). The firm had revenue of $58.67 million during the quarter, compared to the consensus estimate of $59.37 million. Beigene had a negative return on equity of 42.63% and a negative net margin of 339.91%. Beigene’s revenue for the quarter was up 222.8% compared to the same quarter last year. During the same quarter last year, the company posted ($2.19) EPS.
A number of equities analysts have issued reports on BGNE shares. Piper Jaffray Companies decreased their price objective on Beigene to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 28th. Maxim Group restated a “buy” rating and set a $170.00 price target on shares of Beigene in a report on Thursday, January 3rd. BidaskClub downgraded Beigene from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Bank of America began coverage on Beigene in a report on Friday, March 15th. They set a “buy” rating and a $200.00 price target for the company. Finally, Zacks Investment Research downgraded Beigene from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $177.68.
In related news, CMO Jane Huang sold 2,636 shares of Beigene stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $130.28, for a total value of $343,418.08. Following the completion of the sale, the chief marketing officer now directly owns 271,621 shares in the company, valued at approximately $35,386,783.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Xiaodong Wang sold 5,000 shares of Beigene stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $146.82, for a total value of $734,100.00. The disclosure for this sale can be found here. Insiders have sold 66,897 shares of company stock valued at $9,709,044 over the last 90 days. Corporate insiders own 13.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGNE. Hillhouse Capital Advisors Ltd. bought a new stake in Beigene in the 4th quarter worth about $622,467,000. Capital Research Global Investors bought a new stake in Beigene in the 3rd quarter worth approximately $314,859,000. BlackRock Inc. increased its stake in Beigene by 294.9% in the 4th quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock worth $263,281,000 after acquiring an additional 1,401,773 shares during the last quarter. Northern Trust Corp increased its stake in Beigene by 22,043.2% in the 4th quarter. Northern Trust Corp now owns 566,423 shares of the company’s stock worth $79,446,000 after acquiring an additional 563,865 shares during the last quarter. Finally, Norges Bank bought a new stake in Beigene in the 4th quarter worth approximately $47,799,000. Institutional investors own 79.85% of the company’s stock.
BGNE traded down $6.71 during trading on Friday, reaching $121.92. The stock had a trading volume of 17,596 shares, compared to its average volume of 265,327. The company has a current ratio of 7.89, a quick ratio of 7.82 and a debt-to-equity ratio of 0.11. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -10.01 and a beta of 1.18. Beigene has a one year low of $105.19 and a one year high of $220.10.
Beigene Company Profile
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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