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.
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.
COPYRIGHT VIOLATION WARNING: “Beigene (BGNE) PT Set at $120.00 by Maxim Group” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2018/01/03/beigene-bgne-pt-set-at-120-00-by-maxim-group-2.html.
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.
Receive News & Ratings for Beigene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene and related companies with MarketBeat.com's FREE daily email newsletter.