BeiGene, Ltd. (NASDAQ:BGNE) Shares Purchased by abrdn plc

abrdn plc boosted its holdings in BeiGene, Ltd. (NASDAQ:BGNE) by 1,346.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,138 shares of the company’s stock after acquiring an additional 19,677 shares during the period. abrdn plc’s holdings in BeiGene were worth $3,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baillie Gifford & Co. raised its position in shares of BeiGene by 17.9% during the 3rd quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock worth $696,384,000 after purchasing an additional 588,294 shares during the period. FMR LLC boosted its position in BeiGene by 3.0% during the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after purchasing an additional 69,297 shares during the period. TD Asset Management Inc grew its stake in BeiGene by 91.9% during the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock worth $18,033,000 after buying an additional 48,018 shares during the last quarter. UBS Group AG increased its position in BeiGene by 869.8% in the third quarter. UBS Group AG now owns 27,297 shares of the company’s stock worth $4,910,000 after buying an additional 30,843 shares during the period. Finally, Hsbc Holdings PLC increased its position in BeiGene by 56.9% in the third quarter. Hsbc Holdings PLC now owns 65,463 shares of the company’s stock worth $11,812,000 after buying an additional 23,744 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Stock Performance

BGNE opened at $153.58 on Monday. The business has a 50 day moving average price of $154.84 and a two-hundred day moving average price of $167.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of -18.07 and a beta of 0.61. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $266.67.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, February 26th. The company reported ($3.53) EPS for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The company had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. During the same quarter in the previous year, the business earned ($4.29) EPS. The company’s quarterly revenue was up 66.9% compared to the same quarter last year. Research analysts predict that BeiGene, Ltd. will post -8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Oyler sold 37,668 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $164.02, for a total transaction of $6,178,305.36. Following the completion of the transaction, the chief executive officer now owns 12,332 shares in the company, valued at approximately $2,022,694.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other BeiGene news, CEO John Oyler sold 37,668 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the transaction, the chief executive officer now owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Julia Aijun Wang sold 397 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total value of $66,330.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BGNE has been the subject of several analyst reports. Guggenheim reduced their price target on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Sanford C. Bernstein reduced their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Bank of America dropped their price target on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective on BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, TD Cowen raised their target price on BeiGene from $235.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.13.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.