DekaBank Deutsche Girozentrale purchased a new stake in Beigene Ltd (NASDAQ:BGNE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,180 shares of the company’s stock, valued at approximately $1,178,000.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. raised its position in shares of Beigene by 4.6% in the second quarter. BlackRock Inc. now owns 2,012,477 shares of the company’s stock worth $249,447,000 after acquiring an additional 88,827 shares during the period. California Public Employees Retirement System raised its position in shares of Beigene by 189.5% in the third quarter. California Public Employees Retirement System now owns 63,385 shares of the company’s stock worth $7,762,000 after acquiring an additional 41,488 shares during the period. State Street Corp raised its position in shares of Beigene by 3.3% in the third quarter. State Street Corp now owns 774,744 shares of the company’s stock worth $94,875,000 after acquiring an additional 24,924 shares during the period. Rhenman & Partners Asset Management AB acquired a new position in shares of Beigene in the fourth quarter worth about $3,315,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Beigene by 14.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 156,070 shares of the company’s stock worth $19,112,000 after acquiring an additional 19,714 shares during the period. 81.39% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on BGNE shares. Morgan Stanley started coverage on shares of Beigene in a research report on Friday, January 17th. They issued an “overweight” rating and a $210.00 price objective for the company. Cowen reiterated an “outperform” rating on shares of Beigene in a research report on Monday, January 27th. BidaskClub upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Friday. Guggenheim downgraded shares of Beigene from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Finally, UBS Group downgraded shares of Beigene from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Beigene presently has a consensus rating of “Hold” and an average price target of $200.89.
BGNE opened at $171.09 on Friday. Beigene Ltd has a twelve month low of $113.01 and a twelve month high of $210.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.26 and a current ratio of 5.40. The company has a 50-day moving average price of $164.18 and a 200 day moving average price of $156.34.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($5.11) earnings per share for the quarter, missing the consensus estimate of ($3.56) by ($1.55). Beigene had a negative return on equity of 53.11% and a negative net margin of 192.75%. The company had revenue of $50.14 million for the quarter, compared to analyst estimates of $65.43 million. During the same quarter last year, the company earned ($2.53) EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities analysts forecast that Beigene Ltd will post -12.91 EPS for the current fiscal year.
In related news, CFO Howard Liang sold 25,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $194.34, for a total transaction of $4,858,500.00. Following the completion of the transaction, the chief financial officer now owns 122,317 shares in the company, valued at approximately $23,771,085.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Jane Huang sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $170.69, for a total transaction of $256,035.00. Following the transaction, the chief marketing officer now owns 291,667 shares of the company’s stock, valued at approximately $49,784,640.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,759 shares of company stock valued at $15,654,021. Insiders own 10.70% of the company’s stock.
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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