BeiGene (NASDAQ:BGNE) has been assigned an average recommendation of “Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $166.00.
A number of analysts recently commented on BGNE shares. BidaskClub lowered BeiGene from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Ladenburg Thalmann reiterated a “buy” rating and set a $172.00 target price on shares of BeiGene in a research report on Thursday, March 1st. They noted that the move was a valuation call. Maxim Group reiterated a “buy” rating on shares of BeiGene in a research report on Wednesday, February 7th. Cowen reiterated a “buy” rating on shares of BeiGene in a research report on Monday, January 8th. Finally, Morgan Stanley increased their target price on BeiGene from $93.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 21st.
Shares of BGNE traded down $0.25 during trading hours on Wednesday, reaching $167.97. 141,158 shares of the company traded hands, compared to its average volume of 394,496. The company has a quick ratio of 6.02, a current ratio of 6.09 and a debt-to-equity ratio of 0.23. The firm has a market cap of $9,010.70, a P/E ratio of -75.47 and a beta of 0.22. BeiGene has a fifty-two week low of $34.36 and a fifty-two week high of $182.79.
In other news, CFO Howard Liang sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $160.27, for a total value of $6,410,800.00. Following the transaction, the chief financial officer now directly owns 15,872 shares in the company, valued at approximately $2,543,805.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Oyler sold 99,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $145.63, for a total value of $14,417,370.00. Following the completion of the transaction, the chief executive officer now owns 93,883 shares in the company, valued at $13,672,181.29. The disclosure for this sale can be found here. Insiders have sold 194,210 shares of company stock worth $29,041,676 over the last quarter. 19.90% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Employees Retirement System of Texas purchased a new position in shares of BeiGene in the 4th quarter worth about $3,909,000. Belpointe Asset Management LLC purchased a new position in shares of BeiGene in the 3rd quarter worth about $1,642,000. Allianz Asset Management GmbH purchased a new position in shares of BeiGene in the 4th quarter worth about $3,330,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of BeiGene by 475.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 13,815 shares of the company’s stock valued at $1,350,000 after buying an additional 11,415 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of BeiGene during the 3rd quarter valued at about $33,744,000. Institutional investors own 51.47% of the company’s stock.
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BeiGene Company Profile
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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