Connor Clark & Lunn Investment Management Ltd. Acquires 138,978 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in BeiGene, Ltd. (NASDAQ:BGNE) by 160.0% during the 3rd quarter, according to the company in its most recent 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.’s holdings in BeiGene were worth $50,706,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in BeiGene during the 3rd quarter worth approximately $36,000. SG Americas Securities LLC bought a new position in BeiGene in the 3rd quarter valued at approximately $105,000. Acadian Asset Management LLC boosted its position 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 in the last quarter. Finally, PFG Investments LLC bought a new position in shares of BeiGene in the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Insider Buying and Selling

In other BeiGene news, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction that occurred on 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 link. Also, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. 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 ninety days. Corporate insiders own 7.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

BeiGene Stock Performance

NASDAQ:BGNE opened at $187.77 on Wednesday. The firm has a market capitalization of $18.29 billion, a P/E ratio of -22.77 and a beta of 0.63. BeiGene, Ltd. has a twelve month low of $126.97 and a twelve month high of $248.16. The company has a fifty day moving average of $212.79 and a 200-day moving average of $182.59. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same quarter in the previous year, the company posted $2.01 EPS. The firm’s revenue was up 28.2% on a year-over-year basis. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -5.57 EPS for the current year.

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.