Zacks Investment Research upgraded shares of BeiGene Ltd. (NASDAQ:BGNE) from a sell rating to a hold rating in a report released on Monday morning.
According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
Other equities research analysts have also issued reports about the stock. Maxim Group set a $41.00 target price on shares of BeiGene and gave the stock a buy rating in a report on Saturday, October 8th. Cowen and Company reissued a buy rating on shares of BeiGene in a report on Friday, October 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $40.00.
Shares of BeiGene (NASDAQ:BGNE) opened at 32.00 on Monday. BeiGene has a one year low of $22.51 and a one year high of $37.89. The stock has a 50 day moving average of $0.00 and a 200-day moving average of $0.00.
BeiGene (NASDAQ:BGNE) last released its earnings results on Thursday, November 10th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by $0.30. On average, analysts forecast that BeiGene will post ($3.96) EPS for the current year.
In other BeiGene news, Director Donald W. Glazer sold 36,443 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $31.02, for a total transaction of $1,130,461.86. Following the completion of the sale, the director now directly owns 4,881,997 shares of the company’s stock, valued at approximately $151,439,546.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 1,760,495 shares of the business’s stock in a transaction on Friday, November 18th. The shares were bought at an average cost of $32.00 per share, with a total value of $56,335,840.00. The disclosure for this purchase can be found here. Company insiders own 24.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Hillhouse Capital Management Ltd. bought a new stake in shares of BeiGene during the first quarter worth about $20,517,000. CQS Cayman LP purchased a new position in BeiGene during the second quarter worth approximately $2,216,000. Bank of Montreal Can purchased a new position in BeiGene during the second quarter worth approximately $191,000. Baillie Gifford & Co. increased its position in BeiGene by 3,586.5% in the second quarter. Baillie Gifford & Co. now owns 68,200 shares of the company’s stock worth $2,032,000 after buying an additional 66,350 shares in the last quarter. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new position in BeiGene during the second quarter worth approximately $1,490,000. 25.83% of the stock is owned by institutional investors and hedge funds.
BeiGene Company Profile
BeiGene, Ltd. is a biopharmaceutical company. The Company is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. It is developing its product candidate, BGB-3111, a potent and selective small molecule Bruton’s tyrosine kinase (BTK) inhibitor, as a monotherapy and in combination with other therapies for the treatment of a range of lymphomas.