Maxim Group Boosts BeiGene (BGNE) Price Target to $225.00
BeiGene (NASDAQ:BGNE) had its price objective raised by stock analysts at Maxim Group from $200.00 to $225.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 18.98% from the company’s current price.
Several other analysts also recently issued reports on BGNE. Zacks Investment Research raised BeiGene from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. BidaskClub raised BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. ValuEngine raised BeiGene from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Ladenburg Thalmann reaffirmed a “buy” rating and set a $172.00 target price on shares of BeiGene in a research note on Thursday, March 1st. They noted that the move was a valuation call. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $138.00 target price on shares of BeiGene in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. BeiGene has an average rating of “Buy” and a consensus target price of $173.00.
Shares of BeiGene opened at $189.11 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $9.81 billion, a P/E ratio of -84.80 and a beta of 0.29. BeiGene has a 12-month low of $184.00 and a 12-month high of $187.13. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.12 and a current ratio of 11.18.
In other BeiGene news, CEO John Oyler sold 99,000 shares of BeiGene stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $145.63, for a total transaction of $14,417,370.00. Following the sale, the chief executive officer now owns 93,883 shares of the company’s stock, valued at approximately $13,672,181.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Howard Liang sold 40,000 shares of BeiGene stock in a transaction on Monday, March 19th. The shares were sold at an average price of $160.27, for a total value of $6,410,800.00. Following the sale, the chief financial officer now directly owns 15,872 shares in the company, valued at approximately $2,543,805.44. The disclosure for this sale can be found here. Insiders have sold a total of 194,210 shares of company stock worth $29,041,676 in the last ninety days. 19.90% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of BeiGene during the 1st quarter valued at $290,000. Northern Trust Corp acquired a new position in shares of BeiGene in the 1st quarter worth $302,000. Tower Research Capital LLC TRC acquired a new position in shares of BeiGene in the 4th quarter worth $182,000. Comerica Bank acquired a new position in shares of BeiGene in the 4th quarter worth $246,000. Finally, Mackenzie Financial Corp acquired a new position in shares of BeiGene in the 4th quarter worth $250,000. Institutional investors own 51.88% of the company’s stock.
BeiGene Company Profile
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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