Beigene (NASDAQ:BGNE) has been assigned a $120.00 target price by equities researchers at Maxim Group in a research note issued on Monday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target indicates a potential upside of 28.88% from the company’s previous close.
The analysts wrote, “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.””
Other research analysts have also issued research reports about the stock. Goldman Sachs Group restated a “buy” rating and set a $86.00 price target (up previously from $43.00) on shares of Beigene in a report on Tuesday, August 15th. Robert W. Baird restated a “neutral” rating and set a $83.00 price target (up previously from $58.00) on shares of Beigene in a report on Tuesday, November 14th. Cowen restated a “buy” rating on shares of Beigene in a report on Tuesday, November 14th. Morgan Stanley restated an “overweight” rating and set a $95.00 price target (up previously from $87.00) on shares of Beigene in a report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Beigene from a “hold” rating to a “sell” rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Beigene has an average rating of “Buy” and a consensus price target of $96.67.
Beigene (BGNE) opened at $93.11 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.33 and a quick ratio of 9.27. Beigene has a fifty-two week low of $27.89 and a fifty-two week high of $118.95.
Beigene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $2.31. The firm had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same quarter in the previous year, the business posted ($1.08) EPS. analysts forecast that Beigene will post -2.04 earnings per share for the current fiscal year.
In other news, CMO Jane Huang sold 600 shares of Beigene stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $85.00, for a total value of $51,000.00. Following the completion of the sale, the chief marketing officer now owns 264,900 shares in the company, valued at approximately $22,516,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Oyler sold 150,957 shares of Beigene 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 of the company’s stock, valued at approximately $39,597,225.50. 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.
Several large investors have recently added to or reduced their stakes in BGNE. Renaissance Technologies LLC bought a new stake in shares of Beigene in the 1st quarter valued at $238,000. Bank of America Corp DE increased its stake in shares of Beigene by 5.8% in the 1st quarter. Bank of America Corp DE now owns 20,199 shares of the company’s stock valued at $740,000 after acquiring an additional 1,116 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Beigene by 315.2% in the 2nd quarter. Bank of Montreal Can now owns 18,610 shares of the company’s stock valued at $837,000 after acquiring an additional 14,128 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Beigene by 6.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 48,831 shares of the company’s stock valued at $2,197,000 after acquiring an additional 2,844 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Beigene by 2.2% in the 2nd 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. Institutional investors own 55.34% 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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