Beigene (BGNE) Stock Rating Reaffirmed by Maxim Group
Maxim Group restated their buy rating on shares of Beigene (NASDAQ:BGNE) in a research report sent to investors on Thursday, Marketbeat Ratings reports. Maxim Group currently has a $160.00 target price on the stock, up from their previous target price of $144.00.
A number of other research analysts have also recently weighed in on BGNE. BidaskClub raised shares of Beigene from a hold rating to a buy rating in a report on Wednesday, January 31st. Zacks Investment Research raised shares of Beigene from a sell rating to a hold rating in a report on Tuesday, January 30th. ValuEngine raised shares of Beigene from a sell rating to a hold rating in a report on Friday, February 2nd. Cowen reaffirmed a buy rating on shares of Beigene in a report on Monday, December 11th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $83.00 price objective (up previously from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $127.67.
Beigene (BGNE) opened at $150.72 on Thursday. The company has a current ratio of 6.09, a quick ratio of 9.27 and a debt-to-equity ratio of 0.23. Beigene has a fifty-two week low of $34.36 and a fifty-two week high of $164.15. The stock has a market cap of $7,956.96, a price-to-earnings ratio of -61.77 and a beta of 0.58.
In other news, EVP Ji Li sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $146.88, for a total transaction of $1,468,800.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $1,468,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker bought 1,980,198 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were bought at an average cost of $101.00 per share, with a total value of $199,999,998.00. The disclosure for this purchase can be found here. Insiders sold 342,521 shares of company stock valued at $39,630,553 in the last ninety days. 19.90% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Beigene by 3.8% during the fourth quarter. Bank of Montreal Can now owns 16,186 shares of the company’s stock worth $1,581,000 after purchasing an additional 600 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of Beigene by 2.6% during the third quarter. Vident Investment Advisory LLC now owns 29,191 shares of the company’s stock worth $3,020,000 after purchasing an additional 733 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Beigene by 3.5% during the third quarter. TD Asset Management Inc. now owns 23,568 shares of the company’s stock worth $2,437,000 after purchasing an additional 800 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Beigene during the third quarter worth about $160,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Beigene during the fourth quarter worth about $182,000. 49.35% of the stock is owned by institutional investors and hedge funds.
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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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