BeiGene Ltd. (BGNE) Earns “Buy” Rating from Cowen and Company
BeiGene Ltd. (NASDAQ:BGNE)‘s stock had its “buy” rating reaffirmed by research analysts at Cowen and Company in a research report issued on Friday.
The analysts wrote, “BeiGene reported positive Phase I data in Waldenstrom’s Macroglobulinemia (WM) for.””
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of BeiGene from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Maxim Group assumed coverage on shares of BeiGene in a research report on Wednesday, September 21st. They issued a “buy” rating and a $41.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $40.00.
BeiGene (NASDAQ:BGNE) traded up 0.16% during midday trading on Friday, reaching $31.84. 120,623 shares of the company’s stock were exchanged. The stock’s market cap is $1.05 billion. The firm has a 50 day moving average of $30.27 and a 200-day moving average of $29.21. BeiGene has a 12 month low of $22.51 and a 12 month high of $35.60.
BeiGene (NASDAQ:BGNE) last issued its earnings results on Wednesday, August 10th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $2.08 million. BeiGene’s revenue for the quarter was down 71.4% on a year-over-year basis. On average, equities research analysts predict that BeiGene will post ($3.38) earnings per share for the current year.
In related news, Director Donald W. Glazer sold 36,443 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $31.02, for a total value of $1,130,461.86. Following the sale, the director now directly owns 4,881,997 shares of the company’s stock, valued at $151,439,546.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald W. Glazer sold 41,463 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $30.66, for a total transaction of $1,271,255.58. Following the completion of the sale, the director now directly owns 4,881,997 shares in the company, valued at $149,682,028.02. The disclosure for this sale can be found here. 24.20% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in BGNE. BlackRock Institutional Trust Company N.A. bought a new stake in shares of BeiGene during the first quarter worth $112,000. Landscape Capital Management L.L.C. bought a new stake in shares of BeiGene during the first quarter worth $202,000. Goldman Sachs Group Inc. bought a new stake in shares of BeiGene during the first quarter worth $807,000. VHCP Management II LLC bought a new stake in shares of BeiGene during the first quarter worth $3,488,000. Finally, Temasek Holdings Private Ltd bought a new stake in shares of BeiGene during the first quarter worth $11,138,000. 26.26% of the stock is currently owned by institutional investors and hedge funds.
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.
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