Bros. Advisors Lp Baker Sells 1,037,017 Shares of BeiGene, Ltd. (NASDAQ:BGNE) Stock

BeiGene, Ltd. (NASDAQ:BGNE) Director Bros. Advisors Lp Baker sold 1,037,017 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the completion of the transaction, the director now directly owns 791,493 shares in the company, valued at $148,222,894.11. This trade represents a 56.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

BeiGene Stock Performance

Shares of BGNE stock opened at $187.50 on Wednesday. The stock has a fifty day moving average of $210.61 and a 200 day moving average of $186.53. BeiGene, Ltd. has a 52 week low of $126.97 and a 52 week high of $248.16. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of -22.75 and a beta of 0.57. 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 announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. During the same period in the previous year, the business earned $2.01 EPS. The business’s revenue was up 28.2% compared to the same quarter last year. As a group, research analysts expect that BeiGene, Ltd. will post -5.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

BGNE has been the topic of several recent research reports. TD Cowen upped their price objective on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities assumed coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and set a $300.00 price target on shares of BeiGene in a research report on Tuesday, December 3rd. Finally, StockNews.com cut BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and an average target price of $253.69.

Institutional Trading of BeiGene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in BeiGene by 0.6% in the third quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock worth $831,979,000 after acquiring an additional 23,807 shares during the period. FMR LLC raised its holdings in BeiGene by 0.8% in the third quarter. FMR LLC now owns 1,660,011 shares of the company’s stock worth $372,689,000 after purchasing an additional 12,855 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in BeiGene by 74.9% in the third quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after purchasing an additional 285,784 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in BeiGene by 160.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in BeiGene by 1.4% in the second quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock worth $16,318,000 after purchasing an additional 1,599 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

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.