BeiGene Ltd. (NASDAQ:BGNE)‘s stock had its “buy” rating reaffirmed by stock analysts at Cowen and Company in a research note issued to investors on Friday.
The analysts wrote, “BeiGene reported positive Phase I data in Waldenstrom’s Macroglobulinemia (WM) for.””
Several other equities research analysts have also issued reports on BGNE. Zacks Investment Research upgraded shares of BeiGene from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Maxim Group initiated coverage on shares of BeiGene in a research report on Wednesday, September 21st. They set a “buy” rating and a $41.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. BeiGene has a consensus rating of “Buy” and a consensus price target of $40.00.
BeiGene (NASDAQ:BGNE) opened at 32.11 on Friday. The company’s 50-day moving average is $30.43 and its 200 day moving average is $29.25. BeiGene has a 52 week low of $22.51 and a 52 week high of $35.60. The company’s market capitalization is $1.06 billion.
BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $2.08 million. BeiGene’s revenue for the quarter was down 71.4% compared to the same quarter last year. On average, analysts forecast that BeiGene will post ($3.38) EPS for the current fiscal year.
In other BeiGene news, Director Donald W. Glazer sold 67,252 shares of BeiGene stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $31.42, for a total transaction of $2,113,057.84. Following the transaction, the director now directly owns 4,882,000 shares of the company’s stock, valued at $153,392,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donald W. Glazer sold 41,463 shares of BeiGene stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $30.66, for a total transaction of $1,271,255.58. Following the transaction, the director now directly owns 4,881,997 shares in the company, valued at $149,682,028.02. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Board of Trustees of The Leland Stanford Junior University acquired a new position in BeiGene during the second quarter valued at approximately $1,490,000. BlackRock Institutional Trust Company N.A. increased its position in shares of BeiGene by 67.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,404 shares of the company’s stock valued at $191,000 after buying an additional 2,589 shares during the last quarter. BlackRock Inc. increased its position in shares of BeiGene by 3,410.1% in the second quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock valued at $114,000 after buying an additional 3,717 shares during the last quarter. CQS Cayman LP purchased a new position in shares of BeiGene during the second quarter valued at approximately $2,216,000. Finally, Brown Advisory Inc. increased its position in shares of BeiGene by 13.1% in the second quarter. Brown Advisory Inc. now owns 112,744 shares of the company’s stock valued at $3,360,000 after buying an additional 13,092 shares during the last quarter. 26.26% of the stock is currently owned by hedge funds and other institutional investors.
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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