Shares of Beigene Ltd (NASDAQ:BGNE) have received an average rating of “Buy” from the six analysts that are covering the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.00.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Beigene from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Maxim Group assumed coverage on shares of Beigene in a report on Wednesday. They set a “buy” rating and a $41.00 target price on the stock. Finally, Cowen and Company reissued a “buy” rating on shares of Beigene in a report on Monday, June 6th.
Beigene (NASDAQ:BGNE) traded down 1.38% during mid-day trading on Friday, reaching $30.75. 57,363 shares of the company were exchanged. Beigene has a 12 month low of $22.51 and a 12 month high of $35.60. The company’s 50 day moving average price is $29.43 and its 200-day moving average price is $29.00. The stock’s market capitalization is $1.01 billion.
Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $2.08 million. The business’s quarterly revenue was down 71.4% compared to the same quarter last year. On average, equities analysts expect that Beigene will post ($3.45) earnings per share for the current fiscal year.
In related news, Director Donald W. Glazer sold 67,252 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $31.42, for a total value of $2,113,057.84. Following the completion of the transaction, the director now owns 4,882,000 shares in the company, valued at approximately $153,392,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. bought a new position in shares of Beigene during the first quarter worth about $112,000. BlackRock Inc. raised 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 worth $114,000 after buying an additional 3,717 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Beigene during the second quarter worth about $191,000. Landscape Capital Management L.L.C. bought a new position in shares of Beigene during the first quarter worth about $202,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Beigene during the second quarter worth about $678,000.
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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