Beigene (BGNE) Given a $120.00 Price Target at Maxim Group
“BeiGene presented initial data from the ongoing Phase 1b trial of its BTK inhibitor (BGB-3111), in combination with its investigational anti-PD-1 antibody, BGB-A317, in patients with B-cell malignancies at the ASH Annual Meeting.”,” the firm’s analyst wrote.
Other analysts have also recently issued research reports about the stock. Goldman Sachs Group reiterated a buy rating and set a $86.00 target price (up previously from $43.00) on shares of Beigene in a research report on Tuesday, August 15th. Robert W. Baird reiterated 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. Cowen reissued a buy rating on shares of Beigene in a report on Tuesday, November 14th. Morgan Stanley reissued an overweight rating and issued a $95.00 price target (up previously from $87.00) on shares of Beigene in a report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Beigene from a hold rating to a sell rating in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $96.67.
Beigene (BGNE) traded down $4.59 during trading hours on Monday, hitting $91.39. 316,100 shares of the stock were exchanged, compared to its average volume of 206,789. Beigene has a 52 week low of $27.29 and a 52 week high of $118.95. 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 (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $0.23 by $2.31. The company had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same quarter last year, the firm earned ($1.08) EPS. sell-side analysts anticipate that Beigene will post -2.04 EPS for the current year.
In other Beigene news, CMO Amy C. Peterson sold 3,601 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $82.96, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Oyler sold 150,957 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following 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 have sold a total of 460,845 shares of company stock worth $39,957,684 over the last three months. Insiders own 19.90% of the company’s stock.
Several hedge funds have recently modified their holdings of BGNE. Renaissance Technologies LLC bought a new stake in shares of Beigene in the 1st quarter valued at about $238,000. Bank of America Corp DE raised its holdings in Beigene by 5.8% in the 1st quarter. Bank of America Corp DE now owns 20,199 shares of the company’s stock valued at $740,000 after acquiring an additional 1,116 shares during the period. Bank of Montreal Can raised its holdings in Beigene by 315.2% in the 2nd quarter. Bank of Montreal Can now owns 18,610 shares of the company’s stock valued at $837,000 after acquiring an additional 14,128 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Beigene by 6.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 48,831 shares of the company’s stock valued at $2,197,000 after acquiring an additional 2,844 shares during the period. Finally, First Trust Advisors LP raised its holdings in Beigene by 2.2% in the 2nd quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock valued at $2,199,000 after acquiring an additional 1,029 shares during the period. 55.34% of the stock is currently owned by institutional investors.
WARNING: “Beigene (BGNE) Given a $120.00 Price Target at Maxim Group” was published by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.watchlistnews.com/beigene-bgne-given-a-120-00-price-target-at-maxim-group/1759310.html.
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.
Receive News & Ratings for Beigene Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.