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BeiGene Ltd (BGNE) Receives a Buy from Maxim Group


Maxim Group analyst Jason McCarthy maintained a Buy rating on BeiGene Ltd (BGNE) today and set a price target of $170. The company’s shares closed on Friday at $153.31.

McCarthy wrote:

“BeiGene presented data for zanubrutinib (BTK inhibitor) over the weekend, including data related to its new drug applications (NDAs) submitted in China, at this year’s American Society of Hematology (ASH) meeting being held in San Diego.”

According to TipRanks.com, McCarthy is a 2-star analyst with an average return of 0.3% and a 37.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Currently, the analyst consensus on BeiGene Ltd is a Strong Buy with an average price target of $194.60, which is a 26.9% upside from current levels. In a report issued on November 21, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $174 price target.

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Based on BeiGene Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $143 million. In comparison, last year the company had a net profit of $118 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BGNE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

BeiGene Ltd. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer. It focuses on Zanubrutinib (BGB-3111), Tislelizumab (BGB-A317), and Pamiparib (BGB-290).