Maxim Group Analysts Give Beigene (BGNE) a $120.00 Price Target
Several other equities research analysts have also weighed in on BGNE. Cowen reiterated a buy rating on shares of Beigene in a research note on Monday, December 11th. Robert W. Baird reiterated a neutral rating and set a $83.00 price objective (up previously from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of Beigene from a hold rating to a buy rating and set a $115.00 price objective on the stock in a research note on Tuesday, October 3rd. Finally, Morgan Stanley reiterated an overweight rating and set a $95.00 price objective (up previously from $87.00) on shares of Beigene in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $96.67.
Shares of Beigene (NASDAQ:BGNE) opened at $95.56 on Monday. Beigene has a 12 month low of $27.89 and a 12 month high of $118.95. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20.
In other Beigene news, CEO John Oyler sold 150,957 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $80.50, for a total value of $12,152,038.50. Following the sale, the chief executive officer now owns 491,891 shares in the company, valued at $39,597,225.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amy C. Peterson sold 3,601 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $82.96, for a total transaction of $298,738.96. Following the completion of the sale, the chief marketing officer now owns 1,201 shares in the company, valued at approximately $99,634.96. The disclosure for this sale can be found here. Insiders sold 462,345 shares of company stock worth $40,099,059 in the last 90 days. 19.90% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of Beigene by 2.5% in the second quarter. ProShare Advisors LLC now owns 10,118 shares of the company’s stock valued at $455,000 after purchasing an additional 246 shares during the period. Vident Investment Advisory LLC increased its stake in shares of Beigene by 2.6% in the third quarter. Vident Investment Advisory LLC now owns 29,191 shares of the company’s stock valued at $3,020,000 after purchasing an additional 733 shares during the period. TD Asset Management Inc. increased its stake in shares of Beigene by 3.5% in the third quarter. TD Asset Management Inc. now owns 23,568 shares of the company’s stock valued at $2,437,000 after purchasing an additional 800 shares during the period. First Trust Advisors LP increased its stake in shares of Beigene by 2.2% in the second quarter. First Trust Advisors LP now owns 48,860 shares of the company’s stock valued at $2,199,000 after purchasing an additional 1,029 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Beigene by 5.8% in the first quarter. Bank of America Corp DE now owns 20,199 shares of the company’s stock valued at $740,000 after purchasing an additional 1,116 shares during the period. Institutional investors own 55.32% of the company’s stock.
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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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