BeiGene Ltd. (BGNE) Upgraded by Zacks Investment Research to “Hold”
BeiGene Ltd. (NASDAQ:BGNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
A number of other equities analysts also recently weighed in on the stock. Maxim Group set a $41.00 target price on shares of BeiGene and gave the company a “buy” rating in a research note on Saturday. Cowen and Company reaffirmed a “buy” rating on shares of BeiGene in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $40.00.
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Shares of BeiGene (NASDAQ:BGNE) traded up 0.22% during midday trading on Tuesday, reaching $32.18. 61,026 shares of the company’s stock were exchanged. BeiGene has a one year low of $22.51 and a one year high of $35.60. The stock’s market cap is $1.06 billion. The firm has a 50 day moving average of $30.43 and a 200-day moving average of $29.25.
BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $2.08 million. The firm’s quarterly revenue was down 71.4% on a year-over-year basis. On average, equities research analysts anticipate that BeiGene will post ($3.38) earnings per share for the current year.
In other news, Director Donald W. Glazer sold 36,443 shares of the 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 sale, the director now owns 4,881,997 shares in the company, valued at $151,439,546.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Donald W. Glazer sold 41,463 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $30.66, for a total transaction of $1,271,255.58. Following the sale, the director now owns 4,881,997 shares in the company, valued at approximately $149,682,028.02. The disclosure for this sale can be found here.
Large investors have recently bought and sold shares of the stock. Hillhouse Capital Management Ltd. purchased a new stake in BeiGene during the first quarter worth approximately $20,517,000. FMR LLC boosted its stake in shares of 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 in the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of BeiGene during the first quarter valued at about $11,138,000. VHCP Management II LLC bought a new stake in shares of BeiGene during the first quarter valued at about $3,488,000. Finally, Boxer Capital LLC boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 26.26% of the company’s stock.
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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