BeiGene, Ltd. (BGNE) Given “Buy” Rating at Maxim Group
Other analysts also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $86.00 price objective (up previously from $43.00) on shares of BeiGene in a report on Tuesday, August 15th. Zacks Investment Research downgraded shares of BeiGene from a buy rating to a hold rating in a report on Thursday, August 10th. Robert W. Baird boosted their price objective on shares of BeiGene from $44.00 to $58.00 and gave the company an outperform rating in a report on Thursday, July 6th. Ladenburg Thalmann Financial Services assumed coverage on shares of BeiGene in a report on Monday, August 7th. They issued a buy rating and a $81.00 price objective for the company. Finally, Morgan Stanley reissued an overweight rating and issued a $83.00 price objective on shares of BeiGene in a report on Monday, July 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $77.33.
BeiGene (NASDAQ BGNE) traded down 0.20% on Monday, reaching $69.96. 11,981 shares of the company traded hands. BeiGene has a 52-week low of $26.43 and a 52-week high of $79.89. The firm’s market cap is $2.79 billion. The stock has a 50-day moving average price of $71.71 and a 200-day moving average price of $50.20.
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In other news, CEO John Oyler sold 219,400 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $64.82, for a total transaction of $14,221,508.00. Following the completion of the sale, the chief executive officer now owns 212,055 shares of the company’s stock, valued at approximately $13,745,405.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 176,056 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased 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. In the last ninety days, insiders have sold 383,710 shares of company stock valued at $22,373,260.
Several institutional investors have recently modified their holdings of the company. ProShare Advisors LLC lifted its holdings in shares of BeiGene by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 10,118 shares of the company’s stock worth $455,000 after acquiring an additional 246 shares during the period. First Trust Advisors LP lifted its holdings in shares of BeiGene by 2.2% during the 2nd quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock worth $2,199,000 after acquiring an additional 1,029 shares during the period. Bank of America Corp DE lifted its holdings in shares of BeiGene by 5.8% during the 1st quarter. Bank of America Corp DE now owns 20,199 shares of the company’s stock worth $740,000 after acquiring an additional 1,116 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of BeiGene by 2.3% during the 1st quarter. Baillie Gifford & Co. now owns 70,865 shares of the company’s stock worth $2,594,000 after acquiring an additional 1,581 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of BeiGene by 3.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 45,987 shares of the company’s stock worth $1,684,000 after acquiring an additional 1,700 shares during the period. 51.02% 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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