Beigene (NASDAQ:BGNE) Lifted to Strong-Buy at BidaskClub
Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Beigene from a strong-buy rating to a hold rating in a research note on Tuesday, August 13th. Morgan Stanley cut their price target on Beigene from $207.00 to $201.00 and set an overweight rating for the company in a research note on Monday, August 12th. Piper Jaffray Companies reaffirmed a buy rating on shares of Beigene in a research note on Thursday, June 20th. Maxim Group set a $170.00 price target on Beigene and gave the stock a buy rating in a research note on Friday, August 9th. Finally, Cowen reaffirmed a buy rating and set a $170.00 price target on shares of Beigene in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $181.28.
NASDAQ:BGNE opened at $145.15 on Friday. The company has a market capitalization of $7.08 billion, a PE ratio of -11.95 and a beta of 1.03. The company has a quick ratio of 6.28, a current ratio of 6.46 and a debt-to-equity ratio of 0.15. Beigene has a 52-week low of $105.19 and a 52-week high of $182.30. The stock has a fifty day simple moving average of $131.50 and a 200-day simple moving average of $130.28.
In related news, CMO Jane Huang sold 10,130 shares of Beigene stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $134.54, for a total transaction of $1,362,890.20. Following the completion of the sale, the chief marketing officer now owns 328,873 shares in the company, valued at approximately $44,246,573.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 3,106 shares of Beigene stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $126.87, for a total value of $394,058.22. Following the sale, the chief executive officer now owns 17,221,155 shares of the company’s stock, valued at approximately $2,184,847,934.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,889 shares of company stock valued at $2,815,939. 13.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in Beigene in the 4th quarter valued at about $351,000. Metropolitan Life Insurance Co. NY purchased a new stake in Beigene in the 4th quarter valued at about $140,000. Millennium Management LLC grew its holdings in Beigene by 19.1% in the 4th quarter. Millennium Management LLC now owns 6,692 shares of the company’s stock valued at $939,000 after buying an additional 1,073 shares during the period. Geode Capital Management LLC grew its holdings in Beigene by 418.8% in the 4th quarter. Geode Capital Management LLC now owns 134,057 shares of the company’s stock valued at $18,629,000 after buying an additional 108,218 shares during the period. Finally, Brinker Capital Inc. grew its holdings in Beigene by 45.3% in the 1st quarter. Brinker Capital Inc. now owns 3,883 shares of the company’s stock valued at $513,000 after buying an additional 1,210 shares during the period.
Beigene Company Profile
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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