Nissay Asset Management Corp Japan ADV increased its position in shares of Beigene Ltd (NASDAQ:BGNE) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,753 shares of the company’s stock after buying an additional 127 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Beigene were worth $363,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BGNE. Hillhouse Capital Advisors Ltd. purchased a new stake in shares of Beigene during the fourth quarter worth approximately $622,467,000. BlackRock Inc. lifted its holdings in shares of Beigene by 294.9% during the fourth quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock worth $263,281,000 after purchasing an additional 1,401,773 shares during the period. Northern Trust Corp lifted its holdings in shares of Beigene by 22,043.2% during the fourth quarter. Northern Trust Corp now owns 566,423 shares of the company’s stock worth $79,446,000 after purchasing an additional 563,865 shares during the period. Norges Bank purchased a new stake in Beigene during the 4th quarter worth about $47,799,000. Finally, Fiera Capital Corp increased its position in Beigene by 3,554.4% during the 4th quarter. Fiera Capital Corp now owns 215,464 shares of the company’s stock worth $30,221,000 after purchasing an additional 209,568 shares in the last quarter.
In other news, insider Xiaobin Wu sold 5,955 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $124.52, for a total value of $741,516.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Jane Huang sold 14,130 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $142.77, for a total value of $2,017,340.10. Following the completion of the transaction, the chief marketing officer now directly owns 271,621 shares of the company’s stock, valued at $38,779,330.17. The disclosure for this sale can be found here. Insiders have sold 63,236 shares of company stock worth $8,286,319 over the last ninety days. 13.30% of the stock is owned by insiders.
A number of brokerages have issued reports on BGNE. Zacks Investment Research raised Beigene from a “hold” rating to a “buy” rating and set a $149.00 price target on the stock in a research note on Wednesday, May 15th. BidaskClub lowered Beigene from a “hold” rating to a “sell” rating in a research note on Saturday, June 1st. Bank of America started coverage on Beigene in a research report on Friday, March 15th. They set a “buy” rating and a $200.00 price target on the stock. Piper Jaffray Companies boosted their price target on Beigene to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Cowen reissued a “buy” rating and set a $170.00 price target on shares of Beigene in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $182.28.
BGNE traded down $7.47 during trading on Friday, reaching $117.62. 338,666 shares of the company were exchanged, compared to its average volume of 333,634. The company has a debt-to-equity ratio of 0.14, a current ratio of 7.52 and a quick ratio of 7.47. Beigene Ltd has a 52 week low of $105.19 and a 52 week high of $194.56. The company has a market cap of $5.92 billion, a P/E ratio of -9.68 and a beta of 1.11.
Beigene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.81) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.15) by $0.34. The company had revenue of $77.83 million during the quarter, compared to analyst estimates of $55.79 million. Beigene had a negative return on equity of 44.75% and a negative net margin of 302.58%. The firm’s quarterly revenue was up 139.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.03) EPS. As a group, research analysts anticipate that Beigene Ltd will post -13.16 earnings per share for the current year.
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BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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