Morgan Stanley reiterated their overweight rating on shares of BeiGene, Ltd. (NASDAQ:BGNE) in a report issued on Friday, October 6th. The brokerage currently has a $95.00 target price on the stock, up from their previous target price of $87.00.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised BeiGene from a hold rating to a buy rating and set a $115.00 price target on the stock in a research report on Tuesday, October 3rd. Maxim Group reaffirmed a buy rating and issued a $120.00 price target (up from $77.00) on shares of BeiGene in a research note on Thursday, September 28th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $86.00 price target (up from $43.00) on shares of BeiGene in a research note on Tuesday, August 15th. Ladenburg Thalmann Financial Services initiated coverage on shares of BeiGene in a research note on Monday, August 7th. They issued a buy rating and a $81.00 target price on the stock. Finally, Robert W. Baird raised their target price on shares of BeiGene from $44.00 to $58.00 and gave the stock an outperform rating in a research note on Thursday, July 6th. Seven research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $92.50.
BeiGene (NASDAQ BGNE) opened at 88.30 on Friday. The stock’s 50 day moving average price is $92.79 and its 200-day moving average price is $92.79. The stock’s market cap is $3.52 billion. BeiGene has a 12 month low of $26.43 and a 12 month high of $118.95.
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In other news, Director Bros. Advisors Lp Baker purchased 176,056 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $71.00 per share, for a total transaction of $12,499,976.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.90% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in BeiGene in the 2nd quarter valued at approximately $111,000. Renaissance Technologies LLC acquired a new stake in BeiGene in the 1st quarter valued at approximately $238,000. Profund Advisors LLC acquired a new stake in BeiGene in the 2nd quarter valued at approximately $248,000. Parametric Portfolio Associates LLC increased its holdings in BeiGene by 59.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 10,796 shares of the company’s stock valued at $395,000 after purchasing an additional 4,010 shares during the last quarter. Finally, NF Trinity Capital Hong Kong Ltd acquired a new stake in BeiGene in the 2nd quarter valued at approximately $454,000. Hedge funds and other institutional investors own 51.02% of the company’s stock.
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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