Beigene Ltd (BGNE) Expected to Announce Earnings of -$1.74 Per Share
Wall Street analysts predict that Beigene Ltd (NASDAQ:BGNE) will announce earnings per share of ($1.74) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Beigene’s earnings. The highest EPS estimate is ($1.41) and the lowest is ($1.94). Beigene posted earnings per share of ($1.05) in the same quarter last year, which indicates a negative year over year growth rate of 65.7%. The firm is expected to report its next earnings results on Wednesday, March 28th.
On average, analysts expect that Beigene will report full year earnings of ($3.70) per share for the current financial year, with EPS estimates ranging from ($7.01) to ($1.59). For the next fiscal year, analysts expect that the firm will post earnings of ($7.56) per share, with EPS estimates ranging from ($9.25) to ($5.88). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Beigene.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) 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 period in the previous year, the company posted ($1.08) EPS.
Several research analysts have recently issued reports on BGNE shares. Ladenburg Thalmann Financial Services started coverage on Beigene in a research note on Monday, August 7th. They issued a “buy” rating and a $81.00 price target for the company. Zacks Investment Research cut Beigene from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Goldman Sachs Group reissued a “buy” rating and issued a $86.00 price target (up previously from $43.00) on shares of Beigene in a research note on Tuesday, August 15th. Maxim Group reaffirmed a “buy” rating and set a $77.00 target price on shares of Beigene in a research note on Monday, September 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 target price (up previously from $87.00) on shares of Beigene in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.67.
In other news, CEO John Oyler sold 150,957 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the sale, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at $39,597,225.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Jane Huang sold 1,600 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $86.25, for a total value of $138,000.00. Following the sale, the chief marketing officer now directly owns 264,900 shares of the company’s stock, valued at $22,847,625. The disclosure for this sale can be found here. Insiders have sold 284,299 shares of company stock valued at $23,432,132 in the last ninety days. Company insiders own 19.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hillhouse Capital Management Ltd. lifted its holdings in shares of Beigene by 172.6% during the second quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock valued at $167,433,000 after purchasing an additional 2,355,906 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Beigene by 2.0% during the third quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock valued at $135,925,000 after purchasing an additional 26,200 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Beigene during the third quarter valued at $62,076,000. Artal Group S.A. lifted its holdings in shares of Beigene by 10.1% during the second quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock valued at $18,000,000 after purchasing an additional 36,714 shares during the last quarter. Finally, Myriad Asset Management Ltd. lifted its holdings in shares of Beigene by 16.6% during the second quarter. Myriad Asset Management Ltd. now owns 385,585 shares of the company’s stock valued at $17,351,000 after purchasing an additional 54,900 shares during the last quarter. 55.34% of the stock is owned by institutional investors and hedge funds.
Beigene (BGNE) traded up $1.00 during trading hours on Monday, hitting $81.00. The stock had a trading volume of 338,500 shares, compared to its average volume of 196,714. Beigene has a 12 month low of $26.43 and a 12 month high of $118.95. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20.
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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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