2 weeks Ago By Defense World Staff
Envestnet Asset Management Inc. cut its stake in BeiGene, Ltd. ( NASDAQ:BGNE – Free Report ) by 2.
5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,140 shares of the company’s stock after selling 1,646 shares during the period. Envestnet Asset Management Inc.
owned about 0.07% of BeiGene worth $9,008,000 as of its most recent SEC filing. A number of other hedge funds have also recently added to or reduced their stakes in the company.
Headlands Technologies LLC acquired a new stake in shares of BeiGene during the first quarter worth $50,000. Benjamin F. Edwards & Company Inc.
raised its holdings in BeiGene by 51.5% during the first quarter. Benjamin F.
Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after purchasing an additional 279 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in BeiGene by 204.
1% in the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after purchasing an additional 849 shares in the last quarter. Envestnet Portfolio Solutions Inc.
acquired a new position in BeiGene during the 1st quarter worth approximately $209,000. Finally, LVW Advisors LLC boosted its stake in shares of BeiGene by 50.2% in the first quarter.
LVW Advisors LLC now owns 1,957 shares of the company’s stock valued at $306,000 after buying an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.
Wall Street Analyst Weigh In Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of BeiGene from $194.
00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. JMP Securities started coverage on shares of BeiGene in a research report on Wednesday, September 18th.
They set a “market outperform” rating and a $288.00 target price for the company. Bank of America lowered their target price on BeiGene from $180.
00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup lifted their price objective on BeiGene from $269.
00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock.
According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.21. BeiGene Stock Up 2.
8 % Shares of NASDAQ BGNE opened at $218.42 on Friday. BeiGene, Ltd.
has a 12-month low of $126.97 and a 12-month high of $223.96.
The stock has a fifty day moving average price of $186.71 and a 200 day moving average price of $165.76.
The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.
06. The company has a market cap of $21.17 billion, a P/E ratio of -28.
85 and a beta of 0.61. BeiGene ( NASDAQ:BGNE – Get Free Report ) last posted its quarterly earnings data on Wednesday, August 7th.
The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.
12. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.
34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.
93%. The business’s quarterly revenue was up 56.1% on a year-over-year basis.
During the same quarter last year, the firm posted ($3.64) earnings per share. Research analysts anticipate that BeiGene, Ltd.
will post -5.13 EPS for the current fiscal year. Insider Transactions at BeiGene In other BeiGene news, CFO Julia Aijun Wang sold 472 shares of the firm’s stock in a transaction on Monday, July 1st.
The shares were sold at an average price of $143.90, for a total transaction of $67,920.80.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . In related news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.
65, for a total transaction of $1,053,695.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink .
Also, CFO Julia Aijun Wang sold 472 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.
80. The disclosure for this sale can be found here . Over the last ninety days, insiders have sold 11,999 shares of company stock valued at $2,282,183.
7.43% of the stock is currently owned by insiders. About BeiGene ( Free Report ) 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. Recommended Stories Five stocks we like better than BeiGene High Flyers: 3 Natural Gas Stocks for March 2022 Can Costco Stock Hit New Highs as Interest Rates Drop? 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion These 3 Stocks Show How to Navigate Declining Consumer Confidence Most active stocks: Dollar volume vs share volume MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy? Receive News & Ratings for BeiGene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BeiGene and related companies with MarketBeat.
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