Beigene (BGNE) Receives “Buy” Rating from Cowen
Cowen restated their buy rating on shares of Beigene (NASDAQ:BGNE) in a report published on Friday, AnalystRatings.com reports. They currently have a $170.00 price objective on the stock.
BGNE has been the subject of a number of other reports. Piper Jaffray Companies dropped their price target on shares of Beigene to $170.00 and set an overweight rating for the company in a research note on Thursday, February 28th. Maxim Group set a $170.00 price target on shares of Beigene and gave the stock a buy rating in a research note on Thursday, February 28th. Bank of America initiated coverage on shares of Beigene in a research note on Friday, March 15th. They issued a buy rating and a $200.00 target price for the company. Zacks Investment Research downgraded shares of Beigene from a strong-buy rating to a hold rating in a research note on Monday, March 4th. Finally, ValuEngine downgraded shares of Beigene from a strong-buy rating to a buy rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Beigene presently has a consensus rating of Buy and a consensus target price of $180.19.
BGNE opened at $116.90 on Friday. The company has a quick ratio of 7.47, a current ratio of 7.52 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.50 billion, a P/E ratio of -9.62 and a beta of 1.11. Beigene has a fifty-two week low of $105.19 and a fifty-two week high of $220.10.
In other news, CEO John Oyler sold 25,499 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $151.73, for a total value of $3,868,963.27. Following the completion of the transaction, the chief executive officer now owns 17,298,245 shares in the company, valued at $2,624,662,713.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Xiaobin Wu sold 5,955 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $124.52, for a total transaction of $741,516.60. The disclosure for this sale can be found here. Insiders sold 106,415 shares of company stock valued at $14,546,501 in the last ninety days. Insiders own 13.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Beigene by 2.3% in the fourth quarter. FMR LLC now owns 5,594,173 shares of the company’s stock valued at $784,639,000 after buying an additional 128,072 shares during the period. Hillhouse Capital Advisors Ltd. acquired a new position in shares of Beigene in the fourth quarter valued at approximately $622,467,000. BlackRock Inc. boosted its holdings in shares of Beigene by 2.5% in the first quarter. BlackRock Inc. now owns 1,923,650 shares of the company’s stock valued at $253,922,000 after buying an additional 46,540 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Beigene by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,121,497 shares of the company’s stock valued at $157,288,000 after buying an additional 5,627 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Beigene by 22,043.2% in the fourth quarter. Northern Trust Corp now owns 566,423 shares of the company’s stock valued at $79,446,000 after buying an additional 563,865 shares during the period.
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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