Macquarie Group Ltd. lifted its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE – Get Rating) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,481 shares of the company’s stock after purchasing an additional 410 shares during the period. Macquarie Group Ltd.’s holdings in BeiGene were worth $3,165,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of BGNE. Primecap Management Co. CA lifted its position in shares of BeiGene by 8.7% during the second quarter. Primecap Management Co. CA now owns 4,031,449 shares of the company’s stock worth $652,490,000 after purchasing an additional 322,645 shares in the last quarter. Pictet Asset Management SA lifted its position in shares of BeiGene by 301.5% during the second quarter. Pictet Asset Management SA now owns 308,919 shares of the company’s stock worth $49,999,000 after purchasing an additional 231,976 shares in the last quarter. Capital Group Private Client Services Inc. lifted its position in shares of BeiGene by 74.2% during the first quarter. Capital Group Private Client Services Inc. now owns 275,197 shares of the company’s stock worth $51,902,000 after purchasing an additional 117,231 shares in the last quarter. BlackRock Inc. lifted its position in shares of BeiGene by 3.8% during the first quarter. BlackRock Inc. now owns 2,699,444 shares of the company’s stock worth $509,114,000 after purchasing an additional 98,316 shares in the last quarter. Finally, USS Investment Management Ltd lifted its position in shares of BeiGene by 70.2% during the second quarter. USS Investment Management Ltd now owns 180,247 shares of the company’s stock worth $29,199,000 after purchasing an additional 74,350 shares in the last quarter. 51.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BGNE. SVB Leerink upped their target price on shares of BeiGene from $236.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, January 20th. Morgan Stanley cut their price objective on shares of BeiGene from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Tuesday, February 28th. Cowen increased their price objective on shares of BeiGene from $213.00 to $262.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. StockNews.com upgraded shares of BeiGene from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. Finally, Guggenheim restated a “buy” rating and issued a $350.00 price objective on shares of BeiGene in a report on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.86.
Insider Transactions at BeiGene
BeiGene Trading Down 1.7 %
BGNE opened at $227.69 on Thursday. The firm’s fifty day moving average is $245.25 and its two-hundred day moving average is $199.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.35 and a current ratio of 3.55. The firm has a market cap of $23.71 billion, a PE ratio of -11.69 and a beta of 0.77. BeiGene, Ltd. has a twelve month low of $118.18 and a twelve month high of $280.62.
BeiGene (NASDAQ:BGNE – Get Rating) last posted its earnings results on Monday, February 27th. The company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($4.18) by ($0.11). The firm had revenue of $380.10 million during the quarter, compared to analyst estimates of $388.17 million. BeiGene had a negative return on equity of 39.72% and a negative net margin of 141.86%. The company’s revenue for the quarter was up 77.6% on a year-over-year basis. During the same quarter last year, the business posted ($6.22) earnings per share. Equities research analysts anticipate that BeiGene, Ltd. will post -12.16 EPS for the current year.
BeiGene Company Profile
BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.
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