Maxim Group Analysts Give Beigene (BGNE) a $120.00 Price Target
“BeiGene presented initial data from the ongoing Phase 1b trial of its BTK inhibitor (BGB-3111), in combination with its investigational anti-PD-1 antibody, BGB-A317, in patients with B-cell malignancies at the ASH Annual Meeting.”,” Maxim Group’s analyst wrote.
Other research analysts also recently issued research reports about the stock. Goldman Sachs Group restated a buy rating and issued a $86.00 price target (up previously from $43.00) on shares of Beigene in a research report on Tuesday, August 15th. Robert W. Baird restated a neutral rating and issued a $83.00 price target (up previously from $58.00) on shares of Beigene in a research report on Tuesday, November 14th. Cowen restated a buy rating on shares of Beigene in a research report on Tuesday, November 14th. Morgan Stanley restated an overweight rating and issued a $95.00 price target (up previously from $87.00) on shares of Beigene in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Beigene from a hold rating to a sell rating in a research report on Monday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $96.67.
Beigene (NASDAQ:BGNE) last posted its earnings results on Monday, November 13th. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $0.23 by $2.31. The business had revenue of $220.21 million for the quarter, compared to analyst estimates of $1.55 million. During the same quarter in the prior year, the business earned ($1.08) earnings per share. research analysts forecast that Beigene will post -2.04 earnings per share for the current year.
In other Beigene news, CEO John Oyler sold 150,957 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,152,038.50. Following the completion of the sale, the chief executive officer now owns 491,891 shares in the company, valued at approximately $39,597,225.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Jane Huang sold 600 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $85.00, for a total transaction of $51,000.00. Following the sale, the chief marketing officer now owns 264,900 shares of the company’s stock, valued at approximately $22,516,500. The disclosure for this sale can be found here. Insiders sold a total of 460,845 shares of company stock valued at $39,957,684 in the last quarter. 19.90% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Beigene during the 3rd quarter valued at $160,000. Teachers Retirement System of The State of Kentucky bought a new stake in Beigene during the 3rd quarter valued at $248,000. SG Americas Securities LLC bought a new stake in Beigene during the 2nd quarter valued at $111,000. Aperio Group LLC bought a new stake in Beigene during the 3rd quarter valued at $301,000. Finally, Jane Street Group LLC bought a new stake in Beigene during the 3rd quarter valued at $339,000. Institutional investors and hedge funds own 55.34% of the company’s stock.
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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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