$BeiGene(BGNE)$ πΊπ ±οΈ ππ »π »π Έππ ·πΊ
Iβll be checking the opening price on Monday for an entry to trade BGNE!
πππ BeiGene: Rocket Fuel for Your Portfolio? Bullish Momentum is Building! πππ
Kia ora Tiger traders!
BeiGene Ltd. (BGNE) is a global biotech powerhouse focused on developing and commercialising innovative cancer treatments. With an extensive portfolio of cutting-edge oncology drugs, BeiGene is making waves in the fight against cancer β and its stock is gaining serious momentum. With insider confidence, institutional backing, and strong technicals, BGNE looks primed for a breakout. Hereβs why this stock could be a fantastic buy right now:
πΌ Insider Confidence: Buying with Both Hands! πΈ
Insiders at BeiGene are showing huge confidence:
β’ In the last 100 trades, insiders bought 4.72 million shares and sold only 396.57 thousand shares β a massive show of faith! πͺ
β’ The last insider trade was 25 days ago by CEO John Oyler, who sold a mere 2.54 thousand shares, highlighting that insiders are far more bullish than bearish. π
This significant buy-to-sell ratio suggests insiders see substantial upside potential ahead. π The volume of buying vs. selling is a solid indicator of confidence in the stock.
π Oncology Powerhouse: Breakthrough Cancer Treatments π
BeiGene is making groundbreaking progress in oncology with a robust lineup of cancer-fighting drugs:
β’ BRUKINSA π for blood cancers, TEVIMBRA π for solid tumours, and XGEVA π for bone metastases are some of the flagship treatments.
β’ Additional treatments like BLINCYTO π for leukaemia, KYPROLIS π for myeloma, and VIDAZA π for myelodysplastic syndromes show BeiGeneβs extensive reach in addressing aggressive cancers.
With treatments across various cancer types, BGNE is a global leader in oncology, providing essential therapies to patients worldwide. ππ
π Technical Position β Riding a Bullish Wave π
BGNE is trading in the lower part of a strong rising trend, which often signals a prime buying opportunity. If the trend floor at $203.40 holds, this setup suggests a robust upside trajectory. π However, if broken, it might signal a slower rise β though all signs remain bullish for now.
Expected Price Range & Targets:
Given the current trend, BGNE is forecasted to rise 23.03% over the next 3 months, with a 90% probability of reaching between $250.26 and $321.52. Based on the latest chart analysis:
β’ π Target Range: $250 - $321 within the next 3 months.
β’ π― Resistance Levels: Recent highs place resistance at $284.71 with potential upper channel targets of $345.
π§ Analyst Ratings & Price Targets π¬
Analysts are rallying behind BGNEβs potential:
β’ π’ JMP Securities: βMarket Outperformβ with a $288 target.
β’ π’ Citigroup: Raised from $269 to $288 β Buy.
β’ π’ JPMorgan Chase: Set a $235 target with an βOverweightβ rating.
The average target price is $246.21, signalling strong upside from the current price. π
π Upcoming Earnings Catalyst π
Circle 12 November 2024 on your calendar! π With revenue projected at $979.8 million (+25.4%), BeiGeneβs earnings release could be the next big catalyst driving this stock higher. π₯π
Fun Fact π‘
BGNEβs flagship drug BRUKINSA π saw a 135% YOY sales increase in Q4 2023! This highlights BeiGeneβs substantial growth and market penetration in oncology. ππͺ
Hey Tiger Traders, could BGNE be the breakout biotech pick of 2024? With analysts, insiders, and institutional investors showing strong support, coupled with an attractive technical setup, BGNE might just be one of the best biotech buys on the market. ππ π
Happy trading ahead. Cheers, BC π
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Lots of Biotech stocks looking good for a trade! Which one? I'm not in the π¨π³ China space yet so maybe this one! π
On November 7, 2024, the opening price for BeiGene Ltd. (BGNE) was not available. However, I can provide you with the opening price on November 2, 2024, which was $206.63 USD. Please note that stock prices can vary throughout the trading day. If you are considering an entry to trade BGNE, I recommend keeping an eye on the stock's price during market hours.
Looks good BC! πππ I love these companies that can help with Cancer! π
Like the look of this one BC, thanks!
Great article, would you like to share it?
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Great article, would you like to share it?