Cerity Partners LLC Lowers Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

Cerity Partners LLC trimmed its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,174 shares of the company’s stock after selling 97 shares during the period. Cerity Partners LLC’s holdings in BeiGene were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BGNE. China Universal Asset Management Co. Ltd. increased its holdings in shares of BeiGene by 350.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,856 shares of the company’s stock valued at $876,000 after purchasing an additional 3,778 shares in the last quarter. JGP Global Gestao de Recursos Ltda. increased its holdings in BeiGene by 135.5% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 9,845 shares of the company’s stock valued at $1,776,000 after buying an additional 5,665 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of BeiGene in the fourth quarter worth about $208,000. Wellington Management Group LLP boosted its stake in shares of BeiGene by 57.4% during the 3rd quarter. Wellington Management Group LLP now owns 55,478 shares of the company’s stock worth $9,979,000 after acquiring an additional 20,239 shares in the last quarter. Finally, Alberta Investment Management Corp grew its position in shares of BeiGene by 214.3% during the 3rd quarter. Alberta Investment Management Corp now owns 8,570 shares of the company’s stock valued at $1,541,000 after acquiring an additional 5,843 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Price Performance

BGNE stock opened at $153.58 on Friday. The business’s 50-day moving average is $154.84 and its two-hundred day moving average is $167.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The firm has a market capitalization of $14.69 billion, a P/E ratio of -18.07 and a beta of 0.61. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $266.67.

BeiGene (NASDAQ:BGNE) last released its earnings results on Monday, February 26th. The company reported ($3.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The firm had revenue of $634.40 million for the quarter, compared to analyst estimates of $632.52 million. During the same period in the prior year, the firm earned ($4.29) earnings per share. The business’s quarterly revenue was up 66.9% compared to the same quarter last year. Analysts anticipate that BeiGene, Ltd. will post -8.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Julia Aijun Wang sold 397 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BeiGene news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Oyler sold 37,668 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the transaction, the chief executive officer now directly owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America reduced their price target on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a report on Monday, April 8th. TD Cowen boosted their price target on shares of BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim decreased their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Sanford C. Bernstein reduced their price target on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $250.13.

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.