BeiGene Ltd. (NASDAQ:BGNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
Several other research firms have also issued reports on BGNE. Maxim Group set a $41.00 price target on BeiGene and gave the stock a “buy” rating in a research report on Saturday, October 8th. Cowen and Company restated a “buy” rating on shares of BeiGene in a research report on Friday, October 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $40.00.
BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.68) by $0.05. The firm earned $0.40 million during the quarter, compared to analysts’ expectations of $2.08 million. The business’s revenue for the quarter was down 71.4% compared to the same quarter last year.
In other BeiGene news, Director Donald W. Glazer sold 41,463 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $30.66, for a total value of $1,271,255.58. Following the completion of the sale, the director now owns 4,881,997 shares in the company, valued at approximately $149,682,028.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Donald W. Glazer sold 67,252 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $31.42, for a total value of $2,113,057.84. Following the completion of the sale, the director now owns 4,882,000 shares of the company’s stock, valued at approximately $153,392,440. The disclosure for this sale can be found here.
Large investors have recently added to or reduced their stakes in the company. Hillhouse Capital Management Ltd. acquired a new stake in BeiGene during the first quarter valued at $20,517,000. FMR LLC boosted its stake in 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 period. Temasek Holdings Private Ltd acquired a new stake in BeiGene during the first quarter valued at $11,138,000. VHCP Management II LLC acquired a new stake in BeiGene during the first quarter valued at $3,488,000. Finally, Boxer Capital LLC boosted its stake in 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 period. Institutional investors and hedge funds own 26.26% of the company’s stock.
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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