Maxim Group analyst Jason McCarthy maintained a Buy rating on BeiGene Ltd (BGNE) yesterday and set a price target of $170. The company’s shares opened today at $121.13.
McCarthy wrote:
“BeiGene has been busy in recent weeks, first with the European Hematology Association (EHA) meeting and then the Lymphoma (ICML). The company held a conference call this morning to discuss results from the P2 ‘pivotal’ trials of zanubrutinib (BTK inhibitor) in relapsed refractory chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL), as well as mantle cell lymphoma (MCL). Other programs were also updated, shown below.”
According to TipRanks.com, McCarthy has 0 stars on 0-5 star ranking scale with an average return of -19.4% and a 22.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on BeiGene Ltd is a Strong Buy with an average price target of $170, representing a 40.3% upside. In a report issued on June 13, CLSA also reiterated a Buy rating on the stock.
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Based on BeiGene Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $169 million. In comparison, last year the company had a GAAP net loss of $105 million.
Based on the recent corporate insider activity of 47 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).
