Bellevue Group AG Grows Stock Position in BeiGene, Ltd. (NASDAQ:BGNE)

Bellevue Group AG raised its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 129.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,729 shares of the company’s stock after acquiring an additional 33,100 shares during the quarter. Bellevue Group AG’s holdings in BeiGene were worth $13,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in BeiGene during the 3rd quarter valued at $36,000. SG Americas Securities LLC acquired a new stake in BeiGene during the 3rd quarter valued at $105,000. PFG Investments LLC purchased a new position in BeiGene during the third quarter worth $210,000. Finally, Truist Financial Corp raised its holdings in shares of BeiGene by 10.1% in the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BGNE. JMP Securities started coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. TD Cowen boosted their price objective on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup raised 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. Finally, JPMorgan Chase & Co. boosted their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Stock Up 4.3 %

Shares of BGNE opened at $215.00 on Friday. BeiGene, Ltd. has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The company’s fifty day moving average is $212.42 and its two-hundred day moving average is $184.63. The firm has a market cap of $20.94 billion, a PE ratio of -26.09 and a beta of 0.63. 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 posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. BeiGene’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the firm posted $2.01 EPS. Analysts forecast that BeiGene, Ltd. will post -5.38 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John Oyler sold 6,175 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $190.10, for a total value of $7,692,966.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,538 shares of company stock valued at $12,594,017. 7.43% of the stock is currently owned by corporate insiders.

About BeiGene

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.