Beigene (BGNE) Stock Rating Reaffirmed by Cowen
Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating restated by equities researchers at Cowen in a report released on Monday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Beigene from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, October 3rd. Maxim Group reissued a “buy” rating and set a $120.00 target price (up from $77.00) on shares of Beigene in a report on Thursday, September 28th. BidaskClub raised shares of Beigene from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Robert W. Baird reissued a “neutral” rating and set a $83.00 target price (up from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $95.00 target price (up from $87.00) on shares of Beigene in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $96.67.
Shares of Beigene (NASDAQ:BGNE) traded up $2.92 during trading hours on Monday, hitting $100.33. 314,500 shares of the company’s stock were exchanged, compared to its average volume of 184,567. The firm has a market capitalization of $4,560.00 and a PE ratio of -76.59. Beigene has a 52 week low of $30.67 and a 52 week high of $118.95. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20.
In related news, CMO Amy C. Peterson sold 3,601 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $82.96, for a total value of $298,738.96. Following the sale, the chief marketing officer now owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Oyler sold 150,957 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the sale, the chief executive officer now directly owns 491,891 shares in the company, valued at approximately $39,597,225.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 483,482 shares of company stock worth $42,139,474. Corporate insiders own 19.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hillhouse Capital Management Ltd. grew its position in Beigene by 172.6% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock valued at $167,433,000 after buying an additional 2,355,906 shares in the last quarter. Orbimed Advisors LLC grew its position in Beigene by 2.0% in the 3rd quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock valued at $135,925,000 after buying an additional 26,200 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Beigene in the 3rd quarter valued at about $62,076,000. Artal Group S.A. grew its position in Beigene by 10.1% in the 2nd quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock valued at $18,000,000 after buying an additional 36,714 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in Beigene in the 3rd quarter valued at about $33,744,000. Hedge funds and other institutional investors own 55.32% of the company’s stock.
Beigene Company Profile
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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