Cowen Reaffirms “Buy” Rating for Beigene (BGNE)
BGNE has been the topic of a number of other reports. Goldman Sachs Group reiterated a buy rating and set a $86.00 target price (up from $43.00) on shares of Beigene in a research report on Tuesday, August 15th. Morgan Stanley reiterated an overweight rating and set a $95.00 target price (up from $87.00) on shares of Beigene in a research report on Friday, October 6th. Robert W. Baird restated a neutral rating and issued a $83.00 price objective (up from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Maxim Group restated a buy rating and issued a $120.00 price objective (up from $77.00) on shares of Beigene in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded shares of Beigene from a hold rating to a buy rating and set a $115.00 price objective on the stock in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Beigene presently has a consensus rating of Buy and a consensus price target of $96.67.
Beigene (NASDAQ:BGNE) opened at $92.99 on Monday. Beigene has a 12-month low of $27.89 and a 12-month high of $118.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33.
In other Beigene news, CMO Jane Huang sold 1,600 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $86.25, for a total value of $138,000.00. Following the completion of the sale, the chief marketing officer now owns 264,900 shares of the company’s stock, valued at $22,847,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Oyler sold 150,957 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the sale, the chief executive officer now directly owns 491,891 shares of the company’s stock, valued at approximately $39,597,225.50. The disclosure for this sale can be found here. Insiders sold 460,845 shares of company stock worth $39,957,684 over the last 90 days. 19.90% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Hillhouse Capital Management Ltd. increased its stake in Beigene by 172.6% in the second quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock valued at $167,433,000 after purchasing an additional 2,355,906 shares in the last quarter. Orbimed Advisors LLC increased its position in shares of Beigene by 2.0% during the third quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock worth $135,925,000 after acquiring an additional 26,200 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Beigene during the third quarter worth $62,076,000. Artal Group S.A. increased its position in shares of Beigene by 10.1% during the second quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock worth $18,000,000 after acquiring an additional 36,714 shares in the last quarter. Finally, Myriad Asset Management Ltd. increased its position in shares of Beigene by 16.6% during the second quarter. Myriad Asset Management Ltd. now owns 385,585 shares of the company’s stock worth $17,351,000 after acquiring an additional 54,900 shares in the last quarter. 55.34% of the stock is owned by hedge funds and other institutional investors.
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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