BeiGene Ltd. (BGNE) Upgraded by Zacks Investment Research to “Hold”
BeiGene Ltd. (NASDAQ:BGNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “BeiGene, Ltd. is a biotechnology company which focused on immuno-oncological therapeutics. The company’s clinical-stage drug candidates include BGB-3111, BGB-283, BGB-290, and BGB-A317. BeiGene, Ltd. is based in Camana Bay, Cayman Islands. “
A number of other equities analysts also recently weighed in on the company. Maxim Group set a $41.00 target price on BeiGene and gave the stock a “buy” rating in a research note on Saturday. Cowen and Company restated a “buy” rating on shares of BeiGene in a research note on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. BeiGene currently has an average rating of “Buy” and a consensus target price of $40.00.
Shares of BeiGene (NASDAQ:BGNE) traded up 0.22% during trading on Tuesday, hitting $32.18. The stock had a trading volume of 61,026 shares. BeiGene has a 52 week low of $22.51 and a 52 week high of $35.60. The company’s 50 day moving average price is $30.43 and its 200 day moving average price is $29.25. The company’s market capitalization is $1.06 billion.
BeiGene (NASDAQ:BGNE) last announced 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 firm earned $0.40 million during the quarter, compared to analysts’ expectations of $2.08 million. The company’s quarterly revenue was down 71.4% on a year-over-year basis. Analysts predict that BeiGene will post ($3.38) earnings per share for the current year.
In related news, Director Donald W. Glazer sold 41,463 shares of BeiGene stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $30.66, for a total value of $1,271,255.58. Following the sale, the director now owns 4,881,997 shares of the company’s stock, valued at approximately $149,682,028.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald W. Glazer sold 36,443 shares of BeiGene stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $31.02, for a total transaction of $1,130,461.86. Following the completion of the sale, the director now directly owns 4,881,997 shares in the company, valued at approximately $151,439,546.94. The disclosure for this sale can be found here.
Large investors have recently bought and sold shares of the company. Boxer Capital LLC boosted its stake in BeiGene by 18.4% in the second quarter. Boxer Capital LLC now owns 493,630 shares of the company’s stock worth $14,710,000 after buying an additional 76,751 shares during the period. Vident Investment Advisory LLC bought a new stake in BeiGene during the second quarter worth approximately $678,000. FMR LLC boosted its stake in BeiGene by 34.0% in the second quarter. FMR LLC now owns 2,300,337 shares of the company’s stock worth $68,550,000 after buying an additional 583,277 shares during the period. Board of Trustees of The Leland Stanford Junior University bought a new stake in BeiGene during the second quarter worth approximately $1,490,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in BeiGene by 67.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,404 shares of the company’s stock worth $191,000 after buying an additional 2,589 shares during the period. 26.26% of the stock is currently owned by institutional investors.
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.
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