California Public Employees Retirement System purchased a new position in shares of Beigene Ltd (NASDAQ:BGNE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 47,482 shares of the company’s stock, valued at approximately $4,912,000. California Public Employees Retirement System owned 0.12% of Beigene as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Beigene in the third quarter valued at approximately $160,000. Teachers Retirement System of The State of Kentucky acquired a new position in Beigene during the third quarter valued at approximately $248,000. SG Americas Securities LLC acquired a new position in Beigene during the second quarter valued at approximately $111,000. Aperio Group LLC acquired a new position in Beigene during the third quarter valued at approximately $301,000. Finally, Jane Street Group LLC acquired a new position in Beigene during the third quarter valued at approximately $339,000. Institutional investors and hedge funds own 55.31% of the company’s stock.
Several brokerages have commented on BGNE. Maxim Group set a $120.00 price objective on shares of Beigene and gave the company a “buy” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a report on Friday, January 5th. ValuEngine downgraded shares of Beigene from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Beigene from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird restated a “neutral” rating and issued a $83.00 price objective (up from $58.00) on shares of Beigene in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $96.67.
In other Beigene news, CEO John Oyler sold 150,957 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 491,891 shares in the company, valued at approximately $39,597,225.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 1,980,198 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were bought at an average cost of $101.00 per share, with a total value of $199,999,998.00. The disclosure for this purchase can be found here. Insiders sold a total of 483,482 shares of company stock worth $42,139,474 in the last 90 days. 19.90% of the stock is currently owned by company insiders.
Beigene Ltd (NASDAQ:BGNE) traded up $12.00 during mid-day trading on Wednesday, hitting $135.75. 457,953 shares of the stock were exchanged, compared to its average volume of 333,060. The company has a market cap of $6,677.26, a PE ratio of -104.42 and a beta of -1.03. The company has a quick ratio of 9.27, a current ratio of 9.33 and a debt-to-equity ratio of 0.20. Beigene Ltd has a one year low of $33.64 and a one year high of $137.50.
Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $2.31. The company had revenue of $220.21 million for the quarter, compared to the consensus estimate of $1.55 million. During the same period last year, the company earned ($1.08) EPS. research analysts forecast that Beigene Ltd will post -2.04 EPS for the current year.
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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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