NewEdge Wealth LLC Has $291,000 Stake in BeiGene, Ltd. (NASDAQ:BGNE)

NewEdge Wealth LLC lifted its position in BeiGene, Ltd. (NASDAQ:BGNE) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the company’s stock after purchasing an additional 112 shares during the quarter. NewEdge Wealth LLC’s holdings in BeiGene were worth $291,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of BeiGene by 57.4% in the third quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock valued at $9,979,000 after purchasing an additional 20,239 shares in the last quarter. XY Capital Ltd raised its stake in shares of BeiGene by 1,205.3% in the third quarter. XY Capital Ltd now owns 15,416 shares of the company’s stock valued at $2,773,000 after purchasing an additional 14,235 shares in the last quarter. FMR LLC raised its stake in shares of BeiGene by 3.0% in the third quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after purchasing an additional 69,297 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of BeiGene by 53.6% in the third quarter. Envestnet Asset Management Inc. now owns 46,682 shares of the company’s stock valued at $8,397,000 after purchasing an additional 16,295 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of BeiGene by 91.9% in the third quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock valued at $18,033,000 after purchasing an additional 48,018 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Stock Performance

Shares of NASDAQ:BGNE opened at $131.86 on Thursday. BeiGene, Ltd. has a twelve month low of $131.28 and a twelve month high of $270.57. The firm has a market cap of $12.61 billion, a PE ratio of -15.51 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.32. The business has a fifty day moving average of $155.97 and a 200-day moving average of $169.12.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.08. The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $632.52 million. BeiGene had a negative return on equity of 23.12% and a negative net margin of 35.86%. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. During the same quarter last year, the business earned ($4.29) earnings per share. On average, equities research analysts predict that BeiGene, Ltd. will post -8.87 EPS for the current fiscal year.

Insider Activity at BeiGene

In related news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $148.89, for a total value of $3,977,745.24. Following the transaction, the chief executive officer now owns 12,084 shares in the company, valued at $1,799,186.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total value of $3,977,745.24. Following the completion of the transaction, the chief executive officer now owns 12,084 shares in the company, valued at approximately $1,799,186.76. The disclosure for this sale can be found here. Insiders have sold a total of 64,781 shares of company stock worth $10,222,381 over the last 90 days. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BGNE. JPMorgan Chase & Co. upped their target price on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Guggenheim dropped their price objective on BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Bank of America dropped their price objective on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Finally, Sanford C. Bernstein dropped their price objective on BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $251.70.

BeiGene Profile

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.