Shares of Beigene Ltd (NASDAQ:BGNE) have been assigned an average rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $93.00.
BGNE has been the topic of several recent research reports. Cowen restated a “buy” rating on shares of Beigene in a report on Tuesday, November 14th. Maxim Group set a $120.00 target price on Beigene and gave the company a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research lowered Beigene from a “hold” rating to a “sell” rating in a report on Monday, November 13th. Robert W. Baird reiterated a “neutral” rating and issued a $83.00 price objective (up from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price objective (up from $87.00) on shares of Beigene in a research note on Friday, October 6th.
In other news, CMO Amy C. Peterson sold 3,601 shares of Beigene stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $82.96, for a total value of $298,738.96. Following the transaction, the chief marketing officer now directly owns 1,201 shares in the company, valued at $99,634.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jane Huang sold 1,100 shares of Beigene stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $86.00, for a total value of $94,600.00. Following the completion of the transaction, the chief marketing officer now owns 264,900 shares in the company, valued at $22,781,400. The disclosure for this sale can be found here. Insiders sold 285,399 shares of company stock worth $23,526,732 over the last quarter. 19.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of BGNE. Hillhouse Capital Management Ltd. increased its stake in Beigene by 172.6% during the second quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock valued at $167,433,000 after acquiring an additional 2,355,906 shares during the period. Orbimed Advisors LLC increased its stake in Beigene by 2.0% during the third quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock valued at $135,925,000 after acquiring an additional 26,200 shares during the period. Canada Pension Plan Investment Board bought a new position in Beigene during the third quarter valued at about $62,076,000. Artal Group S.A. increased its stake in Beigene by 10.1% during the second quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock valued at $18,000,000 after acquiring an additional 36,714 shares during the period. Finally, Myriad Asset Management Ltd. increased its stake in Beigene by 16.6% during the second quarter. Myriad Asset Management Ltd. now owns 385,585 shares of the company’s stock valued at $17,351,000 after acquiring an additional 54,900 shares during the period. Institutional investors and hedge funds own 55.34% of the company’s stock.
Beigene (BGNE) opened at $92.76 on Thursday. Beigene has a 1-year low of $26.43 and a 1-year high of $118.95. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20.
Beigene (NASDAQ:BGNE) last posted its earnings results on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $2.31. The company had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same quarter last year, the business earned ($1.08) earnings per share. research analysts predict that Beigene will post -2.04 earnings per share for the current year.
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Beigene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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