Beigene Ltd (BGNE) Sees Unusually-High Trading Volume
Shares of Beigene Ltd (NASDAQ:BGNE) saw unusually-strong trading volume on Tuesday . Approximately 82,160 shares changed hands during mid-day trading, an increase of 59% from the previous session’s volume of 51,715 shares.The stock last traded at $30.89 and had previously closed at $30.89.
Several research analysts have commented on BGNE shares. Zacks Investment Research upgraded Beigene from a “sell” rating to a “hold” rating in a research note on Thursday, May 26th. Cowen and Company restated a “buy” rating on shares of Beigene in a research note on Monday, June 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $39.67.
The firm’s 50 day moving average is $29.01 and its 200-day moving average is $28.98. The firm’s market cap is $1.02 billion.
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Beigene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.05. The firm earned $0.40 million during the quarter, compared to analysts’ expectations of $2.08 million. Beigene’s revenue was down 71.4% on a year-over-year basis. Equities analysts forecast that Beigene Ltd will post ($3.45) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. acquired a new position in Beigene during the first quarter valued at $112,000. BlackRock Inc. boosted its position in Beigene by 3,410.1% in the second quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock valued at $114,000 after buying an additional 3,717 shares in the last quarter. Bank of Montreal Can acquired a new position in Beigene during the second quarter valued at $191,000. Landscape Capital Management L.L.C. acquired a new position in Beigene during the first quarter valued at $202,000. Finally, Vident Investment Advisory LLC acquired a new position in Beigene during the second quarter valued at $678,000.
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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