BeiGene, Ltd. (NASDAQ:BGNE) PT Raised to $73.00
BeiGene, Ltd. (NASDAQ:BGNE) had its price objective hoisted by Maxim Group from $57.00 to $73.00 in a report released on Friday, July 7th, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.
A number of other equities research analysts also recently weighed in on BGNE. Robert W. Baird boosted their price target on BeiGene from $44.00 to $58.00 and gave the company an outperform rating in a report on Thursday, July 6th. William Blair reiterated an outperform rating on shares of BeiGene in a report on Thursday, June 1st. Finally, Zacks Investment Research downgraded BeiGene from a hold rating to a sell rating in a report on Monday, March 27th. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and a consensus target price of $73.25.
BeiGene (BGNE) traded up 0.98% during midday trading on Friday, hitting $72.31. The stock had a trading volume of 66,969 shares. The company’s market cap is $2.87 billion. The company has a 50-day moving average price of $59.96 and a 200-day moving average price of $43.43. BeiGene has a 12-month low of $26.05 and a 12-month high of $79.25.
In related news, CEO John Oyler sold 98,500 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $44.16, for a total transaction of $4,349,760.00. Following the completion of the transaction, the chief executive officer now directly owns 88,535 shares in the company, valued at approximately $3,909,705.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Xiaodong Wang sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $72.44, for a total value of $1,448,800.00. Following the transaction, the director now owns 16,300 shares of the company’s stock, valued at approximately $1,180,772. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 389,249 shares of company stock valued at $22,594,820. 24.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of BeiGene during the second quarter worth about $111,000. Renaissance Technologies LLC acquired a new position in shares of BeiGene during the first quarter worth about $238,000. Airain ltd acquired a new position in shares of BeiGene during the first quarter worth about $320,000. ProShare Advisors LLC raised its position in shares of BeiGene by 42.0% in the first quarter. ProShare Advisors LLC now owns 9,872 shares of the company’s stock worth $361,000 after buying an additional 2,918 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of BeiGene by 59.1% in the first quarter. Parametric Portfolio Associates LLC now owns 10,796 shares of the company’s stock worth $395,000 after buying an additional 4,010 shares during the period. Institutional investors own 44.01% of the company’s stock.
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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