Donald W. Glazer Sells 47,149 Shares of Beigene Ltd (BGNE) Stock
Beigene Ltd (NASDAQ:BGNE) Director Donald W. Glazer sold 47,149 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $29.61, for a total transaction of $1,396,081.89. Following the transaction, the director now directly owns 4,881,997 shares of the company’s stock, valued at $144,555,931.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Beigene Ltd (NASDAQ:BGNE) opened at 30.23 on Thursday. The stock’s 50 day moving average is $29.81 and its 200 day moving average is $29.04. The company’s market capitalization is $994.66 million. Beigene Ltd has a 52 week low of $22.51 and a 52 week high of $35.60.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.05. The business earned $0.40 million during the quarter, compared to analyst estimates of $2.08 million. Beigene’s revenue for the quarter was down 71.4% on a year-over-year basis. Analysts predict that Beigene Ltd will post ($3.38) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. bought a new stake in Beigene during the first quarter valued at about $112,000. BlackRock Inc. raised its stake in Beigene by 3,410.1% in the second quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock valued at $114,000 after buying an additional 3,717 shares in the last quarter. Bank of Montreal Can bought a new stake in Beigene during the second quarter valued at about $191,000. Landscape Capital Management L.L.C. bought a new stake in Beigene during the first quarter valued at about $202,000. Finally, Vident Investment Advisory LLC bought a new stake in Beigene during the second quarter valued at about $678,000.
BGNE has been the subject of several research reports. Maxim Group initiated coverage on shares of Beigene in a research note on Wednesday, September 21st. They set a “buy” rating and a $41.00 price target for the company. Cowen and Company reaffirmed a “buy” rating on shares of Beigene in a research note on Monday, June 6th. Finally, Zacks Investment Research raised shares of Beigene from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Beigene currently has a consensus rating of “Buy” and a consensus target price of $40.00.
Beigene Company Profile
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.
Receive News & Stock Ratings for Beigene Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beigene Ltd and related stocks with our FREE daily email newsletter.