Beigene (BGNE) Cut to Hold at BidaskClub
Beigene (NASDAQ:BGNE) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.
A number of other analysts have also weighed in on BGNE. Maxim Group reaffirmed a “buy” rating and set a $120.00 price objective (up previously from $77.00) on shares of Beigene in a research report on Thursday, September 28th. Zacks Investment Research raised Beigene from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 price objective (up previously from $87.00) on shares of Beigene in a research report on Friday, October 6th. Robert W. Baird reaffirmed a “neutral” rating and set a $83.00 price objective (up previously from $58.00) on shares of Beigene in a research report on Tuesday, November 14th. Finally, Cowen reaffirmed a “buy” rating on shares of Beigene in a research report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $96.67.
Shares of Beigene (BGNE) traded up $1.44 during midday trading on Friday, reaching $103.28. The company’s stock had a trading volume of 140,662 shares, compared to its average volume of 319,702. Beigene has a 52 week low of $31.70 and a 52 week high of $118.95. The company has a current ratio of 9.33, a quick ratio of 9.27 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4,700.00 and a price-to-earnings ratio of -78.84.
In related news, CEO John Oyler sold 150,957 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the transaction, the chief executive officer now owns 491,891 shares in the company, valued at $39,597,225.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Jane Huang sold 1,000 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $98.00, for a total transaction of $98,000.00. Following the transaction, the chief marketing officer now owns 1,000 shares of the company’s stock, valued at approximately $98,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 483,482 shares of company stock valued at $42,139,474. Insiders own 19.90% of the company’s stock.
Several hedge funds have recently modified their holdings of BGNE. Hillhouse Capital Management Ltd. grew its stake in shares of Beigene by 172.6% during the second quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock worth $167,433,000 after purchasing an additional 2,355,906 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Beigene during the third quarter worth $62,076,000. Janus Henderson Group PLC acquired a new position in shares of Beigene during the third quarter worth $33,744,000. Alliancebernstein L.P. acquired a new position in shares of Beigene during the second quarter worth $7,373,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Beigene during the second quarter worth $2,855,000. Hedge funds and other institutional investors own 55.32% of the company’s stock.
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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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