BeiGene’s (BGNE) Buy Rating Reaffirmed at Cowen and Company
BeiGene Ltd. (NASDAQ:BGNE)‘s stock had its “buy” rating reissued by research analysts at Cowen and Company in a research note issued on Friday.
The analysts wrote, “BeiGene reported positive Phase I data in Waldenstrom’s Macroglobulinemia (WM) for.””
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of BeiGene from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Maxim Group assumed coverage on shares of BeiGene in a research report on Wednesday, September 21st. They issued a “buy” rating and a $41.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.00.
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Shares of BeiGene (NASDAQ:BGNE) traded up 0.16% during midday trading on Friday, reaching $31.84. 120,623 shares of the company traded hands. BeiGene has a 1-year low of $22.51 and a 1-year high of $35.60. The company’s market capitalization is $1.05 billion. The company has a 50 day moving average price of $30.27 and a 200 day moving average price of $29.21.
BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.68) by $0.05. The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $2.08 million. BeiGene’s revenue was down 71.4% on a year-over-year basis. On average, analysts expect that BeiGene will post ($3.38) earnings per share for the current year.
In related news, Director Donald W. Glazer sold 36,443 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $31.02, for a total transaction of $1,130,461.86. Following the completion of the transaction, the director now owns 4,881,997 shares in the company, valued at approximately $151,439,546.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald W. Glazer sold 67,252 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $31.42, for a total transaction of $2,113,057.84. Following the transaction, the director now owns 4,882,000 shares of the company’s stock, valued at approximately $153,392,440. The disclosure for this sale can be found here. Corporate insiders own 24.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BGNE. Hillhouse Capital Management Ltd. purchased a new position in BeiGene during the first quarter valued at approximately $20,517,000. FMR LLC raised its position in BeiGene by 34.0% in the second quarter. FMR LLC now owns 2,300,337 shares of the company’s stock valued at $68,550,000 after buying an additional 583,277 shares during the period. Temasek Holdings Private Ltd purchased a new position in BeiGene during the first quarter valued at approximately $11,138,000. VHCP Management II LLC purchased a new position in BeiGene during the first quarter valued at approximately $3,488,000. Finally, Boxer Capital LLC raised its position in BeiGene by 18.4% in the second quarter. Boxer Capital LLC now owns 493,630 shares of the company’s stock valued at $14,710,000 after buying an additional 76,751 shares during the period. Hedge funds and other institutional investors own 26.26% of the company’s stock.
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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