Maxim Group Reiterates “$170.00” Price Target for Beigene (BGNE)
Beigene (NASDAQ:BGNE) has been given a $170.00 price target by Maxim Group in a research note issued to investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the stock. Maxim Group’s price objective would indicate a potential upside of 44.15% from the company’s current price.
A number of other analysts also recently commented on BGNE. Zacks Investment Research upgraded Beigene from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Wednesday, May 15th. Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Beigene in a research report on Friday. BidaskClub downgraded Beigene from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. ValuEngine downgraded Beigene from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 15th. Finally, Piper Jaffray Companies raised their price objective on Beigene to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $180.19.
BGNE traded down $2.24 during midday trading on Friday, reaching $117.93. The company’s stock had a trading volume of 384,022 shares, compared to its average volume of 286,948. The firm has a market capitalization of $5.61 billion, a P/E ratio of -9.71 and a beta of 1.07. The company has a quick ratio of 7.47, a current ratio of 7.52 and a debt-to-equity ratio of 0.14. Beigene has a twelve month low of $105.19 and a twelve month high of $220.10.
In related news, CMO Jane Huang sold 300 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $130.12, for a total transaction of $39,036.00. Following the completion of the transaction, the chief marketing officer now owns 271,621 shares in the company, valued at approximately $35,343,324.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Liang sold 23,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $130.21, for a total value of $3,020,872.00. Following the transaction, the chief financial officer now owns 52,338 shares of the company’s stock, valued at approximately $6,814,930.98. The disclosure for this sale can be found here. Insiders sold a total of 111,003 shares of company stock valued at $15,243,923 in the last quarter. Corporate insiders own 13.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its position in shares of Beigene by 1.9% during the 4th quarter. Jennison Associates LLC now owns 4,513 shares of the company’s stock worth $633,000 after buying an additional 86 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in shares of Beigene by 4.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 2,753 shares of the company’s stock worth $363,000 after buying an additional 127 shares during the period. Comerica Bank lifted its position in shares of Beigene by 3.5% during the 1st quarter. Comerica Bank now owns 4,365 shares of the company’s stock worth $638,000 after buying an additional 146 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Beigene by 116.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 355 shares of the company’s stock worth $47,000 after buying an additional 191 shares during the period. Finally, Neuburgh Advisers LLC bought a new position in shares of Beigene during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 81.37% of the company’s stock.
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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