Maxim Group Reiterates “$41.00” Price Target for BeiGene Ltd. (BGNE)
BeiGene Ltd. (NASDAQ:BGNE) received a $41.00 target price from investment analysts at Maxim Group in a research note issued to investors on Saturday. The firm presently has a a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 28.77% from the stock’s current price.
BGNE has been the topic of a number of other research reports. Zacks Investment Research raised BeiGene from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Cowen and Company reissued a “buy” rating on shares of BeiGene in a research report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.00.
Shares of BeiGene (NASDAQ:BGNE) traded up 0.16% during trading on Friday, reaching $31.84. The company’s stock had a trading volume of 120,623 shares. The firm’s 50-day moving average is $30.36 and its 200 day moving average is $29.23. The company’s market cap is $1.05 billion. BeiGene has a 52-week low of $22.51 and a 52-week high of $35.60.
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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 analysts’ consensus estimates of ($0.68) by $0.05. The business earned $0.40 million during the quarter, compared to analysts’ expectations of $2.08 million. The business’s quarterly revenue was down 71.4% on a year-over-year basis. On average, equities research analysts predict that BeiGene will post ($3.38) EPS for the current fiscal year.
In other BeiGene news, Director Donald W. Glazer sold 41,463 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $30.66, for a total transaction of $1,271,255.58. Following the completion of the sale, the director now directly owns 4,881,997 shares in the company, valued at $149,682,028.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald W. Glazer sold 36,443 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $31.02, for a total value of $1,130,461.86. Following the sale, the director now owns 4,881,997 shares of the company’s stock, valued at $151,439,546.94. The disclosure for this sale can be found here. Corporate insiders own 24.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. acquired a new stake in BeiGene during the first quarter valued at $112,000. BlackRock Inc. boosted its stake 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 during the last quarter. Bank of Montreal Can acquired a new stake in BeiGene during the second quarter valued at $191,000. Landscape Capital Management L.L.C. acquired a new stake in BeiGene during the first quarter valued at $202,000. Finally, Vident Investment Advisory LLC acquired a new stake in BeiGene during the second quarter valued at $678,000. 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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