Trading Report: Today, BeiGene Ltd. (BGNE) Upgrade by The Zacks Investment Research to “Hold”

Today, BeiGene Ltd. (BGNE) Upgrade by The Zacks Investment Research to “Hold”

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.

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