Beigene (BGNE) PT Set at $120.00 by Maxim Group

Beigene (NASDAQ:BGNE) received a $120.00 target price from stock analysts at Maxim Group in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 17.22% from the company’s previous close.

BGNE has been the topic of a number of other reports. Zacks Investment Research upgraded Beigene from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, October 3rd. Morgan Stanley reissued an “overweight” rating and issued a $95.00 price target (up previously from $87.00) on shares of Beigene in a research note on Friday, October 6th. Cowen reissued a “buy” rating on shares of Beigene in a research note on Monday, December 11th. Robert W. Baird reissued a “neutral” rating and issued a $83.00 price target (up previously from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Finally, ValuEngine downgraded Beigene from a “hold” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $96.67.

Shares of Beigene (NASDAQ:BGNE) traded up $1.56 during trading on Wednesday, reaching $102.37. The company’s stock had a trading volume of 126,762 shares, compared to its average volume of 194,250. Beigene has a 52-week low of $30.02 and a 52-week 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. The company has a market cap of $4,630.00 and a P/E ratio of -78.15.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, November 13th. The company reported $2.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $2.31. The firm had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same period in the prior year, the firm posted ($1.08) EPS. equities research analysts predict that Beigene will post -2.04 earnings per share for the current year.

In other news, CMO Jane Huang sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $98.00, for a total value of $98,000.00. Following the completion of the transaction, the chief marketing officer now owns 1,000 shares in the company, valued at approximately $98,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Oyler sold 20,137 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $96.46, for a total value of $1,942,415.02. Following the completion of the transaction, the chief executive officer now owns 110,179 shares of the company’s stock, valued at approximately $10,627,866.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 483,482 shares of company stock valued at $42,139,474. Corporate insiders own 19.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BGNE. First Trust Advisors LP lifted its stake in Beigene by 2.2% in the 2nd quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock valued at $2,199,000 after purchasing an additional 1,029 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Beigene during the second quarter worth $111,000. Myriad Asset Management Ltd. grew its stake in shares of Beigene by 16.6% during the second quarter. Myriad Asset Management Ltd. now owns 385,585 shares of the company’s stock worth $17,351,000 after buying an additional 54,900 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Beigene during the second quarter worth $7,373,000. Finally, Baillie Gifford & Co. grew its stake in shares of Beigene by 5.0% during the second quarter. Baillie Gifford & Co. now owns 74,424 shares of the company’s stock worth $3,349,000 after buying an additional 3,559 shares during the last quarter. Institutional investors own 55.32% of the company’s stock.

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About Beigene

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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