Connor Clark & Lunn Investment Management Ltd. Has $50.71 Million Stock Position in BeiGene, Ltd. (NASDAQ:BGNE)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 160.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,854 shares of the company’s stock after purchasing an additional 138,978 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of BeiGene worth $50,706,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BGNE. Blue Trust Inc. increased its stake in shares of BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in BeiGene during the third quarter worth about $36,000. SG Americas Securities LLC acquired a new position in BeiGene during the third quarter worth approximately $105,000. Acadian Asset Management LLC raised 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 period. Finally, PFG Investments LLC acquired a new stake in shares of BeiGene in the third quarter valued at approximately $210,000. 48.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,070 shares of company stock worth $4,901,050 in the last 90 days. Company insiders own 7.43% of the company’s stock.

BeiGene Trading Up 0.0 %

BGNE stock opened at $187.77 on Wednesday. BeiGene, Ltd. has a 52 week low of $126.97 and a 52 week high of $248.16. The company has a market capitalization of $18.29 billion, a PE ratio of -22.77 and a beta of 0.63. The company’s 50-day simple moving average is $212.79 and its 200 day simple moving average is $182.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the previous year, the company earned $2.01 EPS. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -5.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BGNE shares. TD Cowen boosted their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. JMP Securities began coverage on shares of BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target on the stock. Finally, Citigroup increased their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.07.

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.