BeiGene, Ltd. (NASDAQ:BGNE) Research Coverage Started at Ladenburg Thalmann Financial Services
Ladenburg Thalmann Financial Services began coverage on shares of BeiGene, Ltd. (NASDAQ:BGNE) in a research report report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $81.00 price target on the stock.
Several other equities analysts also recently commented on BGNE. Maxim Group set a $57.00 target price on BeiGene and gave the stock a buy rating in a research report on Saturday, July 1st. Robert W. Baird raised their target price on BeiGene from $44.00 to $58.00 and gave the stock an outperform rating in a research report on Thursday, July 6th. Morgan Stanley restated an overweight rating and set a $83.00 target price on shares of BeiGene in a research report on Monday, July 10th. Zacks Investment Research upgraded BeiGene from a sell rating to a buy rating and set a $79.00 target price for the company in a research report on Tuesday, July 11th. Finally, William Blair restated an outperform rating on shares of BeiGene in a research report on Thursday, June 1st. Seven analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of $74.80.
Shares of BeiGene (NASDAQ BGNE) opened at 77.30 on Monday. BeiGene has a 12-month low of $26.43 and a 12-month high of $79.89. The firm’s market cap is $3.07 billion. The firm has a 50-day moving average price of $65.71 and a 200-day moving average price of $45.09.
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In other news, CEO John Oyler sold 98,500 shares of BeiGene stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $44.16, for a total value of $4,349,760.00. Following the completion of the sale, the chief executive officer now directly owns 88,535 shares of the company’s stock, valued at approximately $3,909,705.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Xiaodong Wang sold 5,539 shares of BeiGene stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $40.00, for a total value of $221,560.00. Following the completion of the sale, the director now directly owns 55,000 shares of the company’s stock, valued at $2,200,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 389,249 shares of company stock valued at $22,594,820. Corporate insiders own 24.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in BeiGene during the second quarter valued at approximately $111,000. Renaissance Technologies LLC bought a new stake in shares of BeiGene during the first quarter worth approximately $238,000. Airain ltd bought a new stake in shares of BeiGene during the first quarter worth approximately $320,000. ProShare Advisors LLC boosted its stake 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 boosted its stake 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. 43.85% of the stock is owned by institutional investors.
BeiGene Company Profile
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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