Maxim Group Believes BeiGene Ltd (NASDAQ: BGNE) Won’t Stop Here


Maxim Group analyst Jason McCarthy maintained a Buy rating on BeiGene Ltd (NASDAQ: BGNE) today and set a price target of $200. The company’s shares closed yesterday at $179.48, close to its 52-week high of $187.90.

McCarthy observed:

“BeiGene reported earnings with a sequential increase in revenues from from $16M. Net loss for the quarter was $105M and the company ended the period with $1.5B in cash, or runway through 2020 and the expected commercialization (and the multiple catalysts on the way there) for the BTK (zanubrutinib) and PD1 (tislelizumab) programs in 2019-2020..”

According to TipRanks.com, McCarthy is a 2-star analyst with an average return of 0.3% and a 37.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

BeiGene Ltd has an analyst consensus of Strong Buy, with a price target consensus of $179.60.

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The company has a one-year high of $187.90 and a one-year low of $34.36. Currently, BeiGene Ltd has an average volume of 380.3K.

Based on the recent corporate insider activity of 34 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 clinical-stage biopharmaceutical company, which engages in the discovery and development of biopharmaceutical products. It develops immuno-oncology drugs for cancer treatment. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Beijing, China.

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