BeiGene, Ltd. (BGNE) Receives “Overweight” Rating from Morgan Stanley
Morgan Stanley reaffirmed their overweight rating on shares of BeiGene, Ltd. (NASDAQ:BGNE) in a research note published on Friday. They currently have a $95.00 price target on the stock, up from their prior price target of $87.00.
A number of other research firms also recently commented on BGNE. Robert W. Baird increased their price objective on BeiGene from $44.00 to $58.00 and gave the stock an outperform rating in a report on Thursday, July 6th. Ladenburg Thalmann Financial Services started coverage on BeiGene in a report on Monday, August 7th. They issued a buy rating and a $81.00 price objective on the stock. Maxim Group increased their price objective on BeiGene from $57.00 to $73.00 and gave the stock a buy rating in a report on Friday, July 7th. Zacks Investment Research upgraded BeiGene from a sell rating to a buy rating and set a $79.00 price objective on the stock in a report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $86.00 price objective (up previously from $43.00) on shares of BeiGene in a report on Tuesday, August 15th. Eight research analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and a consensus target price of $92.50.
BeiGene (NASDAQ BGNE) traded down 4.78% during midday trading on Friday, reaching $103.84. 200,638 shares of the company’s stock traded hands. The stock’s market capitalization is $4.13 billion. BeiGene has a 52 week low of $26.43 and a 52 week high of $112.00. The company’s 50-day moving average price is $90.10 and its 200 day moving average price is $90.10.
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In related news, Director Bros. Advisors Lp Baker purchased 176,056 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average price of $71.00 per share, for a total transaction of $12,499,976.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald W. Glazer sold 10,810 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $72.15, for a total value of $779,941.50. Following the transaction, the director now owns 7,206 shares in the company, valued at approximately $519,912.90. The disclosure for this sale can be found here. Company insiders own 19.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in BeiGene during the second quarter valued at approximately $111,000. Profund Advisors LLC acquired a new position in BeiGene during the second quarter valued at approximately $248,000. Renaissance Technologies LLC acquired a new position in BeiGene during the first quarter valued at approximately $238,000. NF Trinity Capital Hong Kong Ltd acquired a new position in BeiGene during the second quarter valued at approximately $454,000. Finally, ProShare Advisors LLC grew its holdings in BeiGene by 2.5% during the second quarter. ProShare Advisors LLC now owns 10,118 shares of the company’s stock valued at $455,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 51.02% of the company’s stock.
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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