Beigene Ltd (BGNE) Receives New Coverage from Analysts at Maxim Group
“BeiGene’s BTK inhibitor (BGB-3111) is going pivotal. We view 3111 as a de- risked, high-value asset in the rich BTK world of therapeutic kinases. Recall that Imbruvica (AbbVie) is indicated for multiple hematological malignancies. The compound was acquired through the $21B acquisition of Pharmacyclics. AstraZeneca recently acquired 55% ownership of Acerta, driven by interest in its BTK inhibitor, for $4B.”,” the firm’s analyst commented.
Several other brokerages also recently issued reports on BGNE. Cowen and Company restated a buy rating on shares of Beigene in a research report on Monday, June 6th. Zacks Investment Research upgraded shares of Beigene from a sell rating to a hold rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Beigene has an average rating of Buy and an average target price of $40.00.
Beigene (NASDAQ:BGNE) opened at 30.98 on Wednesday. Beigene has a 12 month low of $22.51 and a 12 month high of $35.60. The stock has a 50 day moving average price of $29.30 and a 200 day moving average price of $28.99. The firm’s market cap is $1.02 billion.
Beigene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, August 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.05. The business 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% compared to the same quarter last year. On average, equities analysts expect that Beigene will post ($3.45) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its stake in Beigene by 67.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,404 shares of the company’s stock worth $191,000 after buying an additional 2,589 shares during the last quarter. BlackRock Inc. increased its stake in Beigene by 3,410.1% in the second quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock worth $114,000 after buying an additional 3,717 shares during the last quarter. Bank of Montreal Can acquired a new stake in Beigene during the second quarter worth $191,000. Landscape Capital Management L.L.C. acquired a new stake in Beigene during the first quarter worth $202,000. Finally, Brown Advisory Inc. increased its stake in Beigene by 13.1% in the second quarter. Brown Advisory Inc. now owns 112,744 shares of the company’s stock worth $3,360,000 after buying an additional 13,092 shares during the last quarter.
Beigene Company Profile
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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