BeiGene Ltd. (BGNE) Upgraded to “Hold” by Zacks Investment Research
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 Monday.
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. “
Several other brokerages have also issued reports on BGNE. Maxim Group set a $41.00 target price on shares of BeiGene and gave the stock a “buy” rating in a research report on Saturday, October 8th. Cowen and Company reiterated a “buy” rating on shares of BeiGene in a research report on Friday, October 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $40.00.
BeiGene (NASDAQ:BGNE) traded down 1.53% on Monday, hitting $31.51. The stock had a trading volume of 220,184 shares. The stock’s 50-day moving average is $0.00 and its 200-day moving average is $0.00. BeiGene has a 52-week low of $22.51 and a 52-week high of $37.89.
BeiGene (NASDAQ:BGNE) last announced its earnings results on Thursday, November 10th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by $0.30. Analysts forecast that BeiGene will post ($3.96) earnings per share for the current year.
In other BeiGene news, Director Donald W. Glazer sold 36,443 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were 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 $151,439,546.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Donald W. Glazer sold 67,252 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $31.42, for a total transaction of $2,113,057.84. Following the sale, the director now owns 4,882,000 shares of the company’s stock, valued at $153,392,440. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of BGNE. Hillhouse Capital Management Ltd. purchased a new stake in BeiGene during the first quarter worth $20,517,000. CQS Cayman LP purchased a new stake in BeiGene during the second quarter worth $2,216,000. Bank of Montreal Can purchased a new stake in BeiGene during the second quarter worth $191,000. Baillie Gifford & Co. raised its stake in BeiGene by 3,586.5% in the second quarter. Baillie Gifford & Co. now owns 68,200 shares of the company’s stock worth $2,032,000 after buying an additional 66,350 shares in the last quarter. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new stake in BeiGene during the second quarter worth $1,490,000. Institutional investors own 25.83% of the company’s stock.
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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