Russell Investments Group Ltd. raised its holdings in shares of BeiGene (NASDAQ:BGNE) by 160.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,705 shares of the company’s stock after acquiring an additional 62,597 shares during the quarter. Russell Investments Group Ltd.’s holdings in BeiGene were worth $17,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Bank of Montreal Can increased its holdings in shares of BeiGene by 3.8% in the fourth quarter. Bank of Montreal Can now owns 16,186 shares of the company’s stock worth $1,581,000 after purchasing an additional 600 shares during the period. Comerica Bank increased its holdings in shares of BeiGene by 34.4% in the first quarter. Comerica Bank now owns 2,880 shares of the company’s stock worth $495,000 after purchasing an additional 737 shares during the period. Quantbot Technologies LP bought a new position in shares of BeiGene in the first quarter worth $290,000. Northern Trust Corp bought a new position in shares of BeiGene in the first quarter worth $302,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of BeiGene in the fourth quarter worth $182,000. 67.15% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on BGNE shares. Maxim Group set a $200.00 price target on shares of BeiGene and gave the stock a “buy” rating in a report on Thursday, May 10th. Zacks Investment Research raised shares of BeiGene from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Tuesday, May 1st. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $172.00 price target on shares of BeiGene in a report on Thursday, March 1st. They noted that the move was a valuation call. ValuEngine raised shares of BeiGene from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $138.00 price target on shares of BeiGene in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. BeiGene has an average rating of “Buy” and an average price target of $173.00.
BeiGene (NASDAQ:BGNE) last released its earnings results on Wednesday, May 9th. The company reported ($2.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.62) by ($0.41). The company had revenue of $32.54 million during the quarter, compared to analyst estimates of $16.88 million. During the same quarter in the previous year, the company posted ($1.27) earnings per share. sell-side analysts anticipate that BeiGene will post -8.4 earnings per share for the current fiscal year.
In related news, CFO Howard Liang sold 40,000 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $160.27, for a total value of $6,410,800.00. Following the transaction, the chief financial officer now owns 15,872 shares of the company’s stock, valued at $2,543,805.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.10% of the stock is owned by corporate insiders.
BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free 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 high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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