Beigene Ltd (BGNE) Rating Increased to Hold at Zacks Investment Research
Beigene Ltd (NASDAQ:BGNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
Separately, Cowen and Company reaffirmed a “buy” rating on shares of Beigene in a report on Monday, June 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.67.
Beigene (NASDAQ:BGNE) opened at 30.98 on Monday. The firm’s market capitalization is $1.02 billion. Beigene has a 12-month low of $22.51 and a 12-month high of $35.60. The company has a 50-day moving average price of $29.15 and a 200-day moving average price of $28.97.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.05. The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $2.08 million. Beigene’s quarterly revenue was down 71.4% on a year-over-year basis. On average, analysts predict that Beigene will post ($3.45) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Hillhouse Capital Management Ltd. acquired a new position in shares of Beigene during the first quarter worth $20,517,000. FMR LLC boosted its position in shares of Beigene by 34.0% in the second quarter. FMR LLC now owns 2,300,337 shares of the company’s stock worth $68,550,000 after buying an additional 583,277 shares during the period. Temasek Holdings Private Ltd acquired a new position in shares of Beigene during the first quarter worth $11,138,000. VHCP Management II LLC acquired a new position in shares of Beigene during the first quarter worth $3,488,000. Finally, Boxer Capital LLC boosted its position in shares of Beigene by 18.4% in the second quarter. Boxer Capital LLC now owns 493,630 shares of the company’s stock worth $14,710,000 after buying an additional 76,751 shares during the period.
BeiGene, Ltd. is a biopharmaceutical company. The Company is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. It is developing its product candidate, BGB-3111, a potent and selective small molecule Bruton’s tyrosine kinase (BTK) inhibitor, as a monotherapy and in combination with other therapies for the treatment of a range of lymphomas.
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