Beigene Ltd (NASDAQ:BGNE) Director Donald W. Glazer sold 47,149 shares of Beigene stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $29.61, for a total transaction of $1,396,081.89. Following the completion of the transaction, the director now owns 4,881,997 shares in the company, valued at approximately $144,555,931.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Beigene Ltd (NASDAQ:BGNE) opened at 30.81 on Monday. The firm has a 50-day moving average of $29.97 and a 200 day moving average of $29.07. The firm’s market capitalization is $1.01 billion. Beigene Ltd has a 52-week low of $22.51 and a 52-week high of $35.60.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.05. The firm had revenue of $0.40 million for the quarter, compared to the consensus estimate of $2.08 million. The firm’s revenue was down 71.4% on a year-over-year basis. Analysts predict that Beigene Ltd will post ($3.38) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Boxer Capital LLC boosted its position in shares of Beigene by 18.4% in the second quarter. Boxer Capital LLC now owns 493,630 shares of the company’s stock valued at $14,710,000 after buying an additional 76,751 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Beigene during the second quarter valued at approximately $678,000. FMR LLC boosted its position in shares of Beigene by 34.0% in the second quarter. FMR LLC now owns 2,300,337 shares of the company’s stock valued at $68,550,000 after buying an additional 583,277 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Beigene during the second quarter valued at approximately $1,490,000. Finally, BlackRock Institutional Trust Company N.A. boosted 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.
Several brokerages recently commented on BGNE. Cowen and Company reiterated a “buy” rating on shares of Beigene in a report on Monday, June 6th. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Finally, Maxim Group started coverage on shares of Beigene in a research report on Wednesday, September 21st. They issued a “buy” rating and a $41.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus 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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