A number of other research analysts have also commented on BGNE. William Blair reiterated an outperform rating on shares of BeiGene in a report on Thursday, June 1st. Robert W. Baird upped their price target on BeiGene from $44.00 to $58.00 and gave the stock an outperform rating in a report on Thursday, July 6th. Morgan Stanley reiterated an overweight rating and set a $83.00 price target on shares of BeiGene in a report on Monday, July 10th. Zacks Investment Research upgraded BeiGene from a sell rating to a buy rating and set a $79.00 price target for the company in a report on Tuesday, July 11th. Finally, Ladenburg Thalmann Financial Services initiated coverage on BeiGene in a research note on Monday, August 7th. They issued a buy rating and a $81.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $77.33.
Shares of BeiGene (NASDAQ:BGNE) opened at 84.89 on Monday. BeiGene has a 52 week low of $26.43 and a 52 week high of $86.80. The company has a 50 day moving average of $77.30 and a 200-day moving average of $77.30. The company’s market cap is $3.38 billion.
In related news, Director Bros. Advisors Lp Baker purchased 176,056 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $71.00 per share, for a total transaction of $12,499,976.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Xiaodong Wang sold 35,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $44.95, for a total value of $1,573,250.00. Following the completion of the sale, the director now owns 26,600 shares in the company, valued at $1,195,670. The disclosure for this sale can be found here. Insiders sold 285,210 shares of company stock valued at $18,023,500 over the last 90 days. 24.20% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in BeiGene in the second quarter valued at $111,000. Profund Advisors LLC bought a new stake in BeiGene in the second quarter valued at $248,000. Renaissance Technologies LLC bought a new stake in BeiGene in the first quarter valued at $238,000. Airain ltd bought a new stake in BeiGene in the first quarter valued at $320,000. Finally, ProShare Advisors LLC grew its position in BeiGene by 42.0% in the first quarter. ProShare Advisors LLC now owns 9,872 shares of the company’s stock valued at $361,000 after acquiring an additional 2,918 shares during the period. Hedge funds and other institutional investors own 51.02% of the company’s stock.
BeiGene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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