Beigene Ltd (NASDAQ:BGNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

Separately, Cowen and Company reaffirmed a “buy” rating on shares of Beigene in a research note on Monday, June 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $39.67.

Shares of Beigene (NASDAQ:BGNE) opened at 30.98 on Monday. Beigene has a 1-year low of $22.51 and a 1-year high of $35.60. The stock’s market capitalization is $1.02 billion. The firm has a 50-day moving average of $29.15 and a 200 day moving average of $28.97.

Beigene (NASDAQ:BGNE) last issued its quarterly earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter was down 71.4% compared to the same quarter last year. On average, equities analysts anticipate that Beigene will post ($3.45) earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. acquired a new stake in Beigene during the first quarter valued at approximately $112,000. BlackRock Inc. raised its stake in Beigene by 3,410.1% in the second quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock valued at $114,000 after buying an additional 3,717 shares in the last quarter. Bank of Montreal Can acquired a new stake in Beigene during the second quarter valued at approximately $191,000. Landscape Capital Management L.L.C. acquired a new stake in Beigene during the first quarter valued at approximately $202,000. Finally, Vident Investment Advisory LLC acquired a new stake in Beigene during the second quarter valued at approximately $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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