Beigene (BGNE) Downgraded to “Hold” at BidaskClub
Beigene (NASDAQ:BGNE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.
A number of other research analysts also recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price objective (up previously from $87.00) on shares of Beigene in a research report on Friday, October 6th. Maxim Group set a $120.00 target price on shares of Beigene and gave the stock a “buy” rating in a research report on Monday, December 11th. Cowen reissued a “buy” rating on shares of Beigene in a research report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Beigene from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $83.00 target price (up previously from $58.00) on shares of Beigene in a research report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Beigene has a consensus rating of “Hold” and an average price target of $96.67.
Beigene (NASDAQ:BGNE) opened at $103.28 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.33 and a quick ratio of 9.27. Beigene has a 12-month low of $31.00 and a 12-month high of $118.95. The stock has a market cap of $4,700.00 and a P/E ratio of -78.84.
In other news, CMO Amy C. Peterson sold 3,601 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $82.96, for a total value of $298,738.96. Following the sale, the chief marketing officer now directly owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Oyler sold 150,957 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the sale, the chief executive officer now directly owns 491,891 shares in the company, valued at $39,597,225.50. The disclosure for this sale can be found here. Insiders sold a total of 483,482 shares of company stock worth $42,139,474 over the last ninety days. Insiders own 19.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BGNE. SG Americas Securities LLC purchased a new stake in shares of Beigene in the 2nd quarter valued at $111,000. Alliancebernstein L.P. purchased a new stake in shares of Beigene in the 2nd quarter valued at $7,373,000. Profund Advisors LLC purchased a new stake in shares of Beigene in the 2nd quarter valued at $248,000. ProShare Advisors LLC boosted its holdings in shares of Beigene by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 10,118 shares of the company’s stock valued at $455,000 after acquiring an additional 246 shares during the last quarter. Finally, Artal Group S.A. boosted its holdings in shares of Beigene by 10.1% in the 2nd quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock valued at $18,000,000 after acquiring an additional 36,714 shares during the last quarter. 55.32% of the stock is currently owned by institutional investors and hedge funds.
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Beigene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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