JGP Global Gestao de Recursos Ltda. Sells 103 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

JGP Global Gestao de Recursos Ltda. lessened its position in BeiGene, Ltd. (NASDAQ:BGNEGet Rating) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,169 shares of the company’s stock after selling 103 shares during the quarter. BeiGene accounts for 0.5% of JGP Global Gestao de Recursos Ltda.’s portfolio, making the stock its 17th largest position. JGP Global Gestao de Recursos Ltda.’s holdings in BeiGene were worth $562,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in BeiGene by 8.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 885 shares of the company’s stock worth $119,000 after buying an additional 68 shares during the period. Desjardins Global Asset Management Inc. increased its stake in BeiGene by 7.6% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 1,523 shares of the company’s stock worth $246,000 after buying an additional 107 shares during the period. United Capital Financial Advisers LLC increased its position in BeiGene by 5.1% during the 1st quarter. United Capital Financial Advisers LLC now owns 2,960 shares of the company’s stock valued at $558,000 after purchasing an additional 144 shares during the period. Janney Montgomery Scott LLC increased its position in BeiGene by 8.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,895 shares of the company’s stock valued at $255,000 after purchasing an additional 149 shares during the period. Finally, Panagora Asset Management Inc. increased its position in BeiGene by 3.7% during the 1st quarter. Panagora Asset Management Inc. now owns 5,195 shares of the company’s stock valued at $980,000 after purchasing an additional 183 shares during the period. Institutional investors own 51.43% of the company’s stock.

BeiGene Price Performance

BGNE stock opened at $266.75 on Wednesday. The firm has a 50 day moving average of $220.10 and a 200 day moving average of $186.90. The company has a current ratio of 4.07, a quick ratio of 3.87 and a debt-to-equity ratio of 0.04. BeiGene, Ltd. has a 52 week low of $118.18 and a 52 week high of $280.62.

BeiGene (NASDAQ:BGNEGet Rating) last released its earnings results on Wednesday, November 9th. The company reported ($5.39) EPS for the quarter, missing analysts’ consensus estimates of ($4.02) by ($1.37). The company had revenue of $387.63 million during the quarter, compared to analyst estimates of $360.25 million. BeiGene had a negative return on equity of 38.92% and a negative net margin of 171.94%. Equities analysts predict that BeiGene, Ltd. will post -18.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on BGNE shares. SVB Leerink raised their target price on shares of BeiGene from $236.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, January 20th. Guggenheim raised their target price on shares of BeiGene from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, January 20th. Daiwa Capital Markets started coverage on shares of BeiGene in a report on Wednesday, January 11th. They issued a “buy” rating and a $308.00 price target on the stock. Cowen raised their price target on shares of BeiGene from $200.00 to $213.00 in a report on Thursday, November 10th. Finally, Morgan Stanley raised their price target on shares of BeiGene from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $286.43.

Insider Buying and Selling

In other BeiGene news, CEO John Oyler sold 6,797 shares of BeiGene stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $248.52, for a total transaction of $1,689,190.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BeiGene news, CEO John Oyler sold 6,797 shares of BeiGene stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $248.52, for a total transaction of $1,689,190.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Xiaodong Wang sold 2,500 shares of BeiGene stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $252.66, for a total transaction of $631,650.00. Following the sale, the insider now owns 5,512,556 shares of the company’s stock, valued at $1,392,802,398.96. The disclosure for this sale can be found here. Insiders sold 43,033 shares of company stock worth $9,407,504 in the last three months. Corporate insiders own 7.50% of the company’s stock.

About BeiGene

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BeiGene, Ltd., a biotechnology company, focuses on discovering, developing, manufacturing, and commercializing various medicines worldwide. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and Pobevcy to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).

See Also

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Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

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