Beigene Ltd (NASDAQ:BGNE) Director Donald W. Glazer sold 36,443 shares of Beigene stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $31.02, for a total value of $1,130,461.86. Following the sale, the director now owns 4,881,997 shares of the company’s stock, valued at approximately $151,439,546.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Beigene Ltd (NASDAQ:BGNE) opened at 30.23 on Thursday. The company’s 50 day moving average price is $29.81 and its 200-day moving average price is $29.04. The stock’s market capitalization is $994.66 million. Beigene Ltd has a one year low of $22.51 and a one year high of $35.60.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by $0.05. The company earned $0.40 million during the quarter, compared to the consensus estimate of $2.08 million. Beigene’s revenue for the quarter was down 71.4% compared to the same quarter last year. Analysts expect that Beigene Ltd will post ($3.38) earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. purchased a new position in shares of Beigene during the first quarter worth approximately $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 during the last quarter. Bank of Montreal Can purchased a new position in shares of Beigene during the second quarter worth approximately $191,000. Landscape Capital Management L.L.C. purchased a new position in shares of Beigene during the first quarter worth approximately $202,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Beigene during the second quarter worth approximately $678,000.
A number of analysts have recently issued reports on the company. Cowen and Company reiterated a “buy” rating on shares of Beigene in a research report on Monday, June 6th. Maxim Group began coverage on Beigene in a report on Wednesday, September 21st. They set a “buy” rating and a $41.00 price objective on the stock. Finally, Zacks Investment Research raised Beigene from a “sell” rating to a “hold” rating in a report on Monday, September 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.00.
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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