Beigene (NASDAQ:BGNE) has been given a $120.00 target price by equities researchers at Maxim Group in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target indicates a potential upside of 28.21% from the company’s current price.
A number of other research analysts have also recently weighed in on the stock. Cowen restated a “buy” rating on shares of Beigene in a research note on Monday, December 11th. Robert W. Baird reiterated a “neutral” rating and issued a $83.00 price target (up previously from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Zacks Investment Research cut shares of Beigene from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price target (up previously from $87.00) on shares of Beigene in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $96.67.
Beigene (NASDAQ:BGNE) traded down $0.27 on Monday, hitting $93.60. 602,800 shares of the company were exchanged, compared to its average volume of 209,072. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33. Beigene has a 52 week low of $27.89 and a 52 week high of $118.95.
In other news, CEO John Oyler sold 150,957 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 491,891 shares in the company, valued at approximately $39,597,225.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Amy C. Peterson sold 3,601 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $82.96, for a total transaction of $298,738.96. Following the sale, the chief marketing officer now owns 1,201 shares in the company, valued at $99,634.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 462,345 shares of company stock worth $40,099,059. Corporate insiders own 19.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Beigene during the 3rd quarter valued at about $160,000. Teachers Retirement System of The State of Kentucky bought a new position in Beigene during the 3rd quarter valued at about $248,000. SG Americas Securities LLC bought a new position in Beigene during the 2nd quarter valued at about $111,000. Aperio Group LLC bought a new position in Beigene during the 3rd quarter valued at about $301,000. Finally, Jane Street Group LLC bought a new position in Beigene during the 3rd quarter valued at about $339,000. Hedge funds and other institutional investors own 55.34% of the company’s stock.
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Beigene Company Profile
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.
