Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Beigene Ltd (NASDAQ:BGNE) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,070 shares of the company’s stock after purchasing an additional 19,714 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Beigene were worth $19,112,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in BGNE. Capital Investment Advisory Services LLC acquired a new position in Beigene in the second quarter valued at approximately $26,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Beigene by 24.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 443 shares of the company’s stock valued at $55,000 after acquiring an additional 88 shares during the period. Riverhead Capital Management LLC lifted its holdings in Beigene by 28.6% in the second quarter. Riverhead Capital Management LLC now owns 450 shares of the company’s stock valued at $56,000 after acquiring an additional 100 shares during the period. Flagship Harbor Advisors LLC acquired a new position in Beigene in the third quarter valued at approximately $58,000. Finally, Marshall Wace North America L.P. acquired a new position in Beigene in the first quarter valued at approximately $76,000.
In other news, insider Xiaodong Wang sold 1,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the insider now owns 7,585,628 shares in the company, valued at approximately $1,289,556,760. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy Yung-Cheng Chen sold 3,800 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $189.15, for a total value of $718,770.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at approximately $756,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,676 shares of company stock worth $9,343,855. Company insiders own 13.40% of the company’s stock.
A number of brokerages have issued reports on BGNE. Maxim Group boosted their price target on Beigene from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, November 4th. BidaskClub upgraded Beigene from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. ValuEngine cut Beigene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 17th. Guggenheim set a $205.00 price target on Beigene and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley dropped their target price on Beigene from $201.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $192.67.
BGNE opened at $199.44 on Friday. Beigene Ltd has a 12-month low of $108.00 and a 12-month high of $200.00. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -16.41 and a beta of 1.00. The company has a current ratio of 6.46, a quick ratio of 6.28 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $138.52 and its 200 day moving average price is $131.38.
Beigene (NASDAQ:BGNE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.43) EPS for the quarter, beating analysts’ consensus estimates of ($3.01) by $1.58. Beigene had a negative return on equity of 38.41% and a negative net margin of 153.32%. The business had revenue of $243.35 million for the quarter, compared to the consensus estimate of $65.58 million. During the same quarter in the prior year, the business posted ($2.92) EPS. The business’s revenue for the quarter was up 360.8% on a year-over-year basis. On average, research analysts forecast that Beigene Ltd will post -11.49 earnings per share for the current year.
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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