BeiGene, Ltd. (BGNE) Given Buy Rating at Cowen and Company
BeiGene, Ltd. (NASDAQ:BGNE)‘s stock had its “buy” rating reissued by analysts at Cowen and Company in a research note issued to investors on Tuesday.
The analysts wrote, “SGMO reported 3Q17 results and is on track to report first data from the Ph1/2 trials.””
A number of other equities research analysts have also recently issued reports on BGNE. Ladenburg Thalmann Financial Services initiated coverage on shares of BeiGene in a report on Monday, August 7th. They set a “buy” rating and a $81.00 price target for the company. Zacks Investment Research cut shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $86.00 target price (up previously from $43.00) on shares of BeiGene in a research note on Tuesday, August 15th. Maxim Group reiterated a “buy” rating and issued a $77.00 target price on shares of BeiGene in a research note on Monday, September 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $95.00 target price (up previously from $87.00) on shares of BeiGene in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. BeiGene has an average rating of “Buy” and a consensus target price of $96.67.
BeiGene (NASDAQ BGNE) traded down $1.04 during mid-day trading on Tuesday, reaching $83.18. 193,900 shares of the company’s stock were exchanged, compared to its average volume of 188,791. The company has a debt-to-equity ratio of 0.57, a current ratio of 8.38 and a quick ratio of 8.38. BeiGene has a one year low of $26.43 and a one year high of $118.95.
BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $2.31. The firm had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same quarter last year, the company earned ($1.08) earnings per share. equities analysts anticipate that BeiGene will post -5.12 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in BGNE. Parametric Portfolio Associates LLC lifted its stake in BeiGene by 59.1% during the first quarter. Parametric Portfolio Associates LLC now owns 10,796 shares of the company’s stock worth $395,000 after purchasing an additional 4,010 shares during the period. Renaissance Technologies LLC bought a new position in BeiGene during the first quarter worth about $238,000. Bank of America Corp DE lifted its stake in BeiGene by 5.8% during the first quarter. Bank of America Corp DE now owns 20,199 shares of the company’s stock worth $740,000 after purchasing an additional 1,116 shares during the period. Bank of Montreal Can lifted its stake in BeiGene by 315.2% during the second quarter. Bank of Montreal Can now owns 18,610 shares of the company’s stock worth $837,000 after purchasing an additional 14,128 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of BeiGene by 6.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 48,831 shares of the company’s stock worth $2,197,000 after buying an additional 2,844 shares in the last quarter. Hedge funds and other institutional investors own 52.09% of the company’s stock.
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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