BeiGene, Ltd. (NASDAQ:BGNE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $303.32, but opened at $319.75. BeiGene shares last traded at $317.01, with a volume of 417 shares trading hands.
BGNE has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of BeiGene from $375.00 to $357.00 and set an “overweight” rating on the stock in a research report on Monday. HSBC raised their target price on BeiGene from $296.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. Cowen upped their price target on BeiGene from $348.00 to $429.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. CLSA cut BeiGene from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $330.00 to $321.00 in a research report on Monday, March 1st. Finally, Piper Sandler upped their target price on BeiGene from $185.00 to $190.00 in a research note on Tuesday, January 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. BeiGene has an average rating of “Hold” and a consensus target price of $316.56.
The company has a quick ratio of 7.64, a current ratio of 7.69 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $321.71 and a two-hundred day moving average price of $306.33. The firm has a market cap of $28.79 billion, a PE ratio of -15.93 and a beta of 0.91.
In other news, CMO Jane Huang sold 1,500 shares of the stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $324.00, for a total value of $486,000.00. Following the completion of the sale, the chief marketing officer now directly owns 285,583 shares in the company, valued at $92,528,892. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Xiaobin Wu sold 6,715 shares of the stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $343.00, for a total transaction of $2,303,245.00. The disclosure for this sale can be found here. Insiders sold 9,715 shares of company stock valued at $3,321,625 over the last quarter. Company insiders own 9.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BGNE. Parallel Advisors LLC raised its position in shares of BeiGene by 35.0% in the fourth quarter. Parallel Advisors LLC now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 35 shares during the last quarter. Signaturefd LLC increased its position in BeiGene by 90.1% during the fourth quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $64,000 after purchasing an additional 118 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in BeiGene during the first quarter worth about $76,000. Bedel Financial Consulting Inc. acquired a new stake in BeiGene during the first quarter worth about $122,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in BeiGene during the fourth quarter worth about $130,000. Institutional investors and hedge funds own 60.65% of the company’s stock.
BeiGene Company Profile (NASDAQ:BGNE)
BeiGene, Ltd., a commercial-stage biotechnology company, engages in discovering, developing, manufacturing, and commercializing medicines for cancer therapeutics in the People's Republic of China and the United States. Its commercial products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and BAT1706 to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).
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