Bank of America Corp DE trimmed its stake in Beigene Ltd (NASDAQ:BGNE) by 55.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,471 shares of the company’s stock after selling 99,132 shares during the period. Bank of America Corp DE owned 0.15% of Beigene worth $12,370,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BGNE. Wells Fargo & Company MN increased its stake in shares of Beigene by 23,414.5% in the 1st quarter. Wells Fargo & Company MN now owns 43,737 shares of the company’s stock worth $7,348,000 after purchasing an additional 43,551 shares in the last quarter. Northern Trust Corp purchased a new stake in shares of Beigene in the 1st quarter worth $302,000. California Public Employees Retirement System increased its stake in shares of Beigene by 23.5% in the 1st quarter. California Public Employees Retirement System now owns 58,222 shares of the company’s stock worth $9,781,000 after purchasing an additional 11,083 shares in the last quarter. Barclays PLC increased its stake in shares of Beigene by 15,154.5% in the 1st quarter. Barclays PLC now owns 11,746 shares of the company’s stock worth $1,974,000 after purchasing an additional 11,669 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Beigene by 11.1% in the 1st quarter. Guggenheim Capital LLC now owns 5,583 shares of the company’s stock worth $938,000 after purchasing an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 77.87% of the company’s stock.
In other Beigene news, CEO John Oyler sold 2,550 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $164.12, for a total transaction of $418,506.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 5,814,100 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were bought at an average cost of $108.00 per share, with a total value of $627,922,800.00. The disclosure for this purchase can be found here. Insiders sold a total of 16,679 shares of company stock valued at $2,808,018 in the last ninety days. 14.10% of the stock is currently owned by insiders.
BGNE has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of Beigene in a research note on Friday, June 15th. BidaskClub downgraded shares of Beigene from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Zacks Investment Research downgraded shares of Beigene from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Piper Jaffray Companies set a $200.00 target price on shares of Beigene and gave the stock a “buy” rating in a report on Monday, July 23rd. Finally, Maxim Group reaffirmed a “buy” rating and issued a $225.00 target price on shares of Beigene in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Beigene presently has an average rating of “Buy” and a consensus target price of $186.34.
Shares of Beigene stock opened at $126.84 on Friday. The firm has a market capitalization of $9.26 billion, a P/E ratio of -56.79 and a beta of 0.67. The company has a quick ratio of 8.10, a current ratio of 8.14 and a debt-to-equity ratio of 0.16. Beigene Ltd has a fifty-two week low of $77.54 and a fifty-two week high of $220.10.
Beigene (NASDAQ:BGNE) last issued its earnings results on Thursday, August 9th. The company reported ($2.92) earnings per share for the quarter, missing the consensus estimate of ($2.12) by ($0.80). The firm had revenue of $52.80 million during the quarter, compared to the consensus estimate of $22.53 million. Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The company’s quarterly revenue was up 5279999900.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.52) EPS. On average, sell-side analysts forecast that Beigene Ltd will post -10.82 EPS for the current year.
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
Featured Article: Risk Tolerance and Your Investment Decisions
Receive News & Ratings for Beigene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene and related companies with MarketBeat.com's FREE daily email newsletter.