Beigene Ltd (NASDAQ:BGNE) Expected to Post Quarterly Sales of $61.00 Million
Equities analysts expect that Beigene Ltd (NASDAQ:BGNE) will report sales of $61.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Beigene’s earnings, with the lowest sales estimate coming in at $60.00 million and the highest estimate coming in at $62.00 million. Beigene reported sales of $52.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.5%. The firm is scheduled to announce its next earnings results on Thursday, August 8th.
On average, analysts expect that Beigene will report full-year sales of $295.17 million for the current fiscal year, with estimates ranging from $151.00 million to $504.17 million. For the next fiscal year, analysts anticipate that the business will post sales of $387.81 million, with estimates ranging from $200.00 million to $607.75 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Beigene.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.15) by $0.34. The firm had revenue of $77.83 million during the quarter, compared to analyst estimates of $55.79 million. Beigene had a negative return on equity of 44.75% and a negative net margin of 302.58%. Beigene’s quarterly revenue was up 139.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.03) earnings per share.
Shares of NASDAQ BGNE traded down $0.04 during trading hours on Friday, reaching $124.36. The stock had a trading volume of 160,584 shares, compared to its average volume of 201,899. The company has a current ratio of 7.52, a quick ratio of 7.47 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -10.24 and a beta of 1.03. The company has a fifty day moving average price of $122.86. Beigene has a 52-week low of $105.19 and a 52-week high of $194.56.
In other news, CEO John Oyler sold 2,824 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $125.18, for a total transaction of $353,508.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Howard Liang sold 23,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $130.21, for a total value of $3,020,872.00. Following the transaction, the chief financial officer now directly owns 52,338 shares in the company, valued at $6,814,930.98. The disclosure for this sale can be found here. Insiders sold 63,365 shares of company stock valued at $7,385,178 in the last three months. 13.30% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. JGP Global Gestao de Recursos Ltda. increased its position in shares of Beigene by 16.2% during the second quarter. JGP Global Gestao de Recursos Ltda. now owns 4,365 shares of the company’s stock worth $541,000 after purchasing an additional 608 shares in the last quarter. FDx Advisors Inc. acquired a new position in shares of Beigene during the second quarter worth $205,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Beigene by 17.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,500 shares of the company’s stock worth $1,178,000 after purchasing an additional 1,400 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Beigene by 6.9% during the second quarter. IFM Investors Pty Ltd now owns 1,949 shares of the company’s stock worth $242,000 after purchasing an additional 126 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Beigene during the second quarter worth $1,066,000.
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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