Zacks Investment Research cut shares of BeiGene Ltd. (NASDAQ:BGNE) from a hold rating to a sell rating in a research report sent 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 research analysts also recently issued reports on the company. Maxim Group set a $41.00 price target on BeiGene and gave the stock a buy rating in a research report on Saturday, October 8th. Cowen and Company reissued a buy rating on shares of BeiGene in a research report on Friday, October 7th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. BeiGene currently has a consensus rating of Buy and an average target price of $40.00.

BeiGene (NASDAQ:BGNE) traded up 2.62% during midday trading on Tuesday, hitting $37.26. The stock had a trading volume of 27,267 shares. The company’s 50-day moving average price is $32.41 and its 200 day moving average price is $29.85. The company’s market capitalization is $1.23 billion. BeiGene has a 52 week low of $22.51 and a 52 week high of $37.89.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.78) by $0.30. On average, analysts expect that BeiGene will post ($3.53) EPS for the current year.

In related news, Director Donald W. Glazer sold 36,443 shares of the firm’s stock in a transaction 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 sale, the director now owns 4,881,997 shares of the company’s stock, valued at approximately $151,439,546.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald W. Glazer sold 67,252 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $31.42, for a total value of $2,113,057.84. Following the sale, the director now directly owns 4,882,000 shares in the company, valued at approximately $153,392,440. The disclosure for this sale can be found here.

Several large investors have recently added to or reduced their stakes in BGNE. Credit Suisse AG increased its stake in BeiGene by 9.1% in the third quarter. Credit Suisse AG now owns 12,000 shares of the company’s stock valued at $370,000 after buying an additional 1,000 shares during the period. Baker BROS. Advisors LP bought a new position in shares of BeiGene during the third quarter valued at about $58,930,000. Hillhouse Capital Management Ltd. bought a new position in shares of BeiGene during the third quarter valued at about $21,567,000. The Manufacturers Life Insurance Company bought a new position in shares of BeiGene during the third quarter valued at about $1,458,000. Finally, Susquehanna International Group LLP bought a new position in shares of BeiGene during the third quarter valued at about $455,000. 25.80% of the stock is currently owned by institutional investors.

About BeiGene

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.

5 Day Chart for NASDAQ:BGNE

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