BeiGene, Ltd. (NASDAQ:BGNE) Stake Cut by M&G Plc

M&G Plc trimmed its stake in BeiGene, Ltd. (NASDAQ:BGNE) by 3.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 173,075 shares of the company’s stock after selling 6,704 shares during the quarter. M&G Plc owned approximately 0.18% of BeiGene worth $38,942,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BGNE. Blue Trust Inc. lifted its stake in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in BeiGene in the third quarter valued at $36,000. Headlands Technologies LLC bought a new stake in BeiGene in the first quarter valued at $50,000. SG Americas Securities LLC bought a new stake in BeiGene in the third quarter valued at $105,000. Finally, Acadian Asset Management LLC lifted its stake in BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after buying an additional 849 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BGNE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. JMP Securities initiated coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. Finally, Citigroup raised their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.21.

Insiders Place Their Bets

In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is currently owned by company insiders.

BeiGene Trading Down 2.5 %

Shares of BGNE opened at $202.73 on Thursday. The business’s 50-day moving average price is $211.97 and its 200 day moving average price is $179.69. The stock has a market capitalization of $19.73 billion, a P/E ratio of -39.91 and a beta of 0.63. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. The firm had revenue of $929.20 million for the quarter, compared to analysts’ expectations of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. BeiGene’s revenue was up 56.1% on a year-over-year basis. During the same quarter last year, the business posted ($3.64) EPS. Analysts expect that BeiGene, Ltd. will post -5 earnings per share for the current year.

About BeiGene

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.