BeiGene, Ltd. (NASDAQ:BGNE) Research Coverage Started at Ladenburg Thalmann Financial Services
Equities researchers at Ladenburg Thalmann Financial Services began coverage on shares of BeiGene, Ltd. (NASDAQ:BGNE) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $81.00 price target on the stock. Ladenburg Thalmann Financial Services’ price objective would indicate a potential upside of 3.32% from the stock’s previous close.
BGNE has been the subject of a number of other reports. Maxim Group set a $52.00 price target on shares of BeiGene and gave the stock a “buy” rating in a research note on Friday, April 21st. William Blair reissued an “outperform” rating on shares of BeiGene in a research note on Thursday, June 1st. Morgan Stanley reissued an “overweight” rating and set a $83.00 price target on shares of BeiGene in a research note on Monday, July 10th. Zacks Investment Research raised shares of BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Tuesday, July 11th. Finally, Robert W. Baird boosted their price target on shares of BeiGene from $44.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, July 6th. Seven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $74.80.
Shares of BeiGene (NASDAQ BGNE) opened at 78.40 on Monday. The company’s 50-day moving average is $62.71 and its 200-day moving average is $44.03. BeiGene has a one year low of $26.42 and a one year high of $79.89. The company’s market capitalization is $3.11 billion.
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In related news, CEO John Oyler sold 98,500 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $44.16, for a total transaction of $4,349,760.00. Following the completion of the transaction, the chief executive officer now owns 88,535 shares in the company, valued at $3,909,705.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Xiaodong Wang sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $72.44, for a total transaction of $1,448,800.00. Following the transaction, the director now owns 16,300 shares of the company’s stock, valued at approximately $1,180,772. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 389,249 shares of company stock valued at $22,594,820.
A number of hedge funds and other institutional investors have recently modified their holdings of BGNE. SG Americas Securities LLC purchased a new position in shares of BeiGene during the second quarter worth about $111,000. Renaissance Technologies LLC purchased a new position in shares of BeiGene during the first quarter worth about $238,000. Airain ltd purchased a new position in shares of BeiGene during the first quarter worth about $320,000. ProShare Advisors LLC boosted its position in shares of BeiGene by 42.0% in the first quarter. ProShare Advisors LLC now owns 9,872 shares of the company’s stock worth $361,000 after buying an additional 2,918 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of BeiGene by 59.1% in the first quarter. Parametric Portfolio Associates LLC now owns 10,796 shares of the company’s stock worth $395,000 after buying an additional 4,010 shares in the last quarter. Hedge funds and other institutional investors own 43.85% of the company’s stock.
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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