BeiGene, Ltd. (NASDAQ:BGNE) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $74.80.
Several equities analysts recently weighed in on the stock. Maxim Group set a $57.00 price target on shares of BeiGene and gave the stock a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded BeiGene from a “sell” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Tuesday, July 11th. Robert W. Baird upped their price objective on BeiGene from $44.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, July 6th. Ladenburg Thalmann Financial Services assumed coverage on BeiGene in a research report on Monday. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $83.00 price objective on shares of BeiGene in a research report on Monday, July 10th.
BeiGene (NASDAQ:BGNE) traded down 1.40% during mid-day trading on Friday, reaching $77.30. 100,165 shares of the company’s stock were exchanged. The company’s 50-day moving average is $59.96 and its 200 day moving average is $43.43. The firm’s market capitalization is $3.07 billion. BeiGene has a one year low of $26.05 and a one year high of $79.81.
In other BeiGene news, Director Xiaodong Wang sold 5,539 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $40.00, for a total value of $221,560.00. Following the sale, the director now owns 55,000 shares in the company, valued at approximately $2,200,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John Oyler sold 219,400 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $64.82, for a total value of $14,221,508.00. Following the completion of the sale, the chief executive officer now owns 212,055 shares in the company, valued at approximately $13,745,405.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 389,249 shares of company stock worth $22,594,820.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of BeiGene by 15.8% in the first quarter. Wellington Management Group LLP now owns 1,256,825 shares of the company’s stock worth $46,013,000 after buying an additional 171,704 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of BeiGene during the first quarter worth about $2,086,000. Emory University acquired a new position in shares of BeiGene during the first quarter worth about $2,111,000. Vident Investment Advisory LLC raised its position in shares of BeiGene by 19.2% in the first quarter. Vident Investment Advisory LLC now owns 29,746 shares of the company’s stock worth $1,089,000 after buying an additional 4,788 shares during the period. Finally, Ariose Capital Management Ltd raised its position in shares of BeiGene by 414.5% in the first quarter. Ariose Capital Management Ltd now owns 198,609 shares of the company’s stock worth $7,271,000 after buying an additional 160,010 shares during the period. Hedge funds and other institutional investors own 43.85% 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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