Zacks Investment Research Upgrades BeiGene Ltd. (BGNE) to Hold

BeiGene Ltd. (NASDAQ:BGNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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. “

Other research analysts have also issued research reports about the stock. Maxim Group set a $41.00 price objective on shares of BeiGene and gave the stock a “buy” rating in a research note on Saturday, October 8th. Cowen and Company reissued a “buy” rating on shares of BeiGene in a research note on Friday, October 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.00.

Analyst Recommendations for BeiGene (NASDAQ:BGNE)

Shares of BeiGene (NASDAQ:BGNE) opened at 31.47 on Monday. BeiGene has a 52-week low of $22.51 and a 52-week high of $37.89. The firm has a 50-day moving average of $0.00 and a 200 day moving average of $0.00.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Thursday, November 10th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by $0.30. On average, analysts anticipate that BeiGene will post ($3.96) EPS for the current fiscal year.

In other news, Director Donald W. Glazer sold 47,149 shares of BeiGene stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $29.61, for a total value of $1,396,081.89. Following the sale, the director now directly owns 4,881,997 shares in the company, valued at $144,555,931.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the director now owns 4,882,000 shares in the company, valued at $153,392,440. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of BGNE. BlackRock Inc. increased its stake in 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 period. BlackRock Institutional Trust Company N.A. increased its stake in BeiGene by 67.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,404 shares of the company’s stock worth $191,000 after buying an additional 2,589 shares during the period. Bank of Montreal Can acquired a new stake in BeiGene during the second quarter worth about $191,000. Credit Suisse AG increased its stake in BeiGene by 9.1% in the third quarter. Credit Suisse AG now owns 12,000 shares of the company’s stock worth $370,000 after buying an additional 1,000 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in BeiGene during the third quarter worth about $455,000. Institutional investors own 25.83% of the company’s stock.

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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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