BeiGene, Ltd. (BGNE) Receives $76.20 Consensus PT from Analysts
Shares of BeiGene, Ltd. (NASDAQ:BGNE) have been assigned an average recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $76.20.
Several research firms recently issued reports on BGNE. Zacks Investment Research raised shares of BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Tuesday, July 11th. Ladenburg Thalmann Financial Services began coverage on shares of BeiGene in a report on Monday, August 7th. They set a “buy” rating and a $81.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $83.00 price objective on shares of BeiGene in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $86.00 price objective (up from $43.00) on shares of BeiGene in a report on Tuesday, August 15th. Finally, Maxim Group upped their price objective on shares of BeiGene from $57.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, July 7th.
BeiGene (BGNE) traded up 8.91% during midday trading on Tuesday, reaching $75.06. 294,818 shares of the company traded hands. The firm has a 50 day moving average of $71.93 and a 200-day moving average of $48.93. The stock’s market capitalization is $2.99 billion. BeiGene has a 12 month low of $26.43 and a 12 month high of $79.89.
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In other BeiGene news, Director Xiaodong Wang sold 35,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $44.95, for a total value of $1,573,250.00. Following the completion of the sale, the director now directly owns 26,600 shares of the company’s stock, valued at approximately $1,195,670. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 176,056 shares of BeiGene stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $71.00 per share, with a total value of $12,499,976.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 383,710 shares of company stock valued at $22,373,260. Insiders own 24.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in shares of BeiGene by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 94,933 shares of the company’s stock worth $4,272,000 after buying an additional 2,300 shares in the last quarter. State Street Corp boosted its position in shares of BeiGene by 14.4% in the second quarter. State Street Corp now owns 36,604 shares of the company’s stock worth $1,647,000 after buying an additional 4,619 shares in the last quarter. Hillhouse Capital Management Ltd. boosted its position in shares of BeiGene by 172.6% in the second quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock worth $167,433,000 after buying an additional 2,355,906 shares in the last quarter. Employees Retirement System of Texas acquired a new position in shares of BeiGene during the second quarter worth about $2,855,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of BeiGene by 25.0% in the second quarter. Parametric Portfolio Associates LLC now owns 13,496 shares of the company’s stock worth $607,000 after buying an additional 2,700 shares in the last quarter. Institutional investors own 51.02% of the company’s stock.
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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