What Drove BeiGene Stock in March 2018?


Apr. 9 2018, Published 12:00 p.m. ET

Stock performance

BeiGene (BGNE) stock has risen 16.9%, from $143.73 on March 1, 2018, to $168 on March 29, 2018. Originally founded as a research and development company, BeiGene has evolved into a biopharmaceutical company focused on developing oncology therapies such as BTK inhibitor zanubrutinib, PD-1 antibody tislelizumab, and PARP inhibitor pamiparib.

On March 1, 2018, the company reported a loss per share of $2.19 for 4Q17, which was in line with Wall Street estimates of $2.23–$1.37. In the aftermath of this result, Baird raised the target price for BGNE stock from $83 to $138, Ladenburg Thalmann raised it from $110 to $172, and Maxim raised it from $144 to $160. Morgan Stanley also raised BeiGene’s target price from $93 to $200 in March 2018.

On April 4, 2018, BeiGene was trading 480% above its 52-week low of $34.36 and 9.8% below its 52-week high of $182.79.

At the end of December 31, 2017, BeiGene had total cash, cash equivalents, and short-term investments of $838 million on its balance sheet, which included $140 million held under the Guangzhou joint venture. The company also managed to raise almost $800 million in funds in January 2018.

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Analyst recommendations for BeiGene in April

Of the seven analysts tracking BeiGene in April 2018, two have recommended a “strong buy” for the stock, four have recommended a “buy,” and one has recommended a “hold.”

On April 6, 2018, BeiGene had a consensus 12-month target price of $158.40, which is ~2.3% lower than its current stock price.


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