K.J. Harrison & Partners Inc Invests $207,000 in Beigene Ltd (BGNE)

K.J. Harrison & Partners Inc purchased a new stake in shares of Beigene Ltd (NASDAQ:BGNE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,200 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Beigene by 5,558.3% during the second quarter. Tower Research Capital LLC TRC now owns 679 shares of the company’s stock valued at $104,000 after buying an additional 667 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Beigene during the second quarter valued at about $135,000. Virtu Financial LLC purchased a new position in shares of Beigene during the second quarter valued at about $212,000. Northern Trust Corp purchased a new position in shares of Beigene during the first quarter valued at about $302,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Beigene by 365.9% during the second quarter. BNP Paribas Arbitrage SA now owns 2,367 shares of the company’s stock valued at $364,000 after buying an additional 1,859 shares during the period. Institutional investors own 77.95% of the company’s stock.

BGNE has been the topic of several research reports. Maxim Group reissued a “buy” rating and set a $225.00 price objective on shares of Beigene in a research note on Monday, July 30th. Zacks Investment Research raised shares of Beigene from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Piper Jaffray Companies set a $200.00 price objective on shares of Beigene and gave the stock a “buy” rating in a research note on Monday, July 23rd. BidaskClub lowered shares of Beigene from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, ValuEngine raised shares of Beigene from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Beigene presently has a consensus rating of “Buy” and an average price target of $186.34.



In other news, CMO Amy C. Peterson sold 5,769 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $169.12, for a total value of $975,653.28. Following the transaction, the chief marketing officer now owns 4,661 shares in the company, valued at $788,268.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker bought 5,814,100 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was purchased at an average price of $108.00 per share, for a total transaction of $627,922,800.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 14,129 shares of company stock worth $2,389,512. Insiders own 14.10% of the company’s stock.

NASDAQ:BGNE opened at $113.69 on Friday. Beigene Ltd has a one year low of $77.54 and a one year high of $220.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.10 and a current ratio of 8.14. The stock has a market cap of $6.12 billion, a P/E ratio of -50.98 and a beta of 0.66.

Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($2.92) EPS for the quarter, missing the consensus estimate of ($2.12) by ($0.80). Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The business had revenue of $52.80 million for the quarter, compared to the consensus estimate of $22.53 million. During the same period in the previous year, the firm earned ($1.52) EPS. The company’s revenue was up 5279999900.0% on a year-over-year basis. Research analysts anticipate that Beigene Ltd will post -10.86 EPS for the current fiscal year.

About Beigene

BeiGene, Ltd. develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; 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.

Further Reading: Why investors pay attention to retained earnings

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Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

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