$23.00 Million in Sales Expected for Beigene Ltd (BGNE) This Quarter

Brokerages expect Beigene Ltd (NASDAQ:BGNE) to report $23.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Beigene’s earnings. The highest sales estimate is $29.50 million and the lowest is $16.50 million. The firm is scheduled to issue its next quarterly earnings report on Wednesday, March 28th.

According to Zacks, analysts expect that Beigene will report full-year sales of $23.00 million for the current year, with estimates ranging from $229.56 million to $249.71 million. For the next fiscal year, analysts anticipate that the company will report sales of $129.99 million per share, with estimates ranging from $69.37 million to $203.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Beigene.

Beigene (NASDAQ:BGNE) last announced its earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $2.31. The firm had revenue of $220.21 million during the quarter, compared to analysts’ expectations of $1.55 million. During the same period in the previous year, the firm earned ($1.08) EPS.

A number of analysts have recently weighed in on BGNE shares. Cowen reaffirmed a “buy” rating on shares of Beigene in a research report on Tuesday, November 14th. Maxim Group set a $120.00 price objective on Beigene and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered Beigene from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $83.00 price objective (up previously from $58.00) on shares of Beigene in a research report on Tuesday, November 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 price objective (up previously from $87.00) on shares of Beigene in a research report 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. Beigene presently has an average rating of “Buy” and a consensus price target of $96.67.

Shares of Beigene (NASDAQ:BGNE) opened at $96.37 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.33 and a quick ratio of 9.27. Beigene has a 12-month low of $26.43 and a 12-month high of $118.95.

In related news, CEO John Oyler sold 150,957 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the transaction, the chief executive officer now owns 491,891 shares in the company, valued at $39,597,225.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Amy C. Peterson sold 3,601 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $82.96, for a total transaction of $298,738.96. Following the transaction, the chief marketing officer now owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The disclosure for this sale can be found here. Insiders have sold 285,399 shares of company stock worth $23,526,732 in the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Several hedge funds have recently modified their holdings of BGNE. SG Americas Securities LLC acquired a new position in shares of Beigene during the second quarter worth $111,000. Quantbot Technologies LP acquired a new position in shares of Beigene during the third quarter worth $160,000. Renaissance Technologies LLC acquired a new position in shares of Beigene during the first quarter worth $238,000. Profund Advisors LLC acquired a new position in shares of Beigene during the second quarter worth $248,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Beigene during the third quarter worth $248,000. Hedge funds and other institutional investors own 55.34% of the company’s stock.

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About Beigene

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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