BeiGene, Ltd. (NASDAQ:BGNE)‘s stock had its “overweight” rating reiterated by equities research analysts at Morgan Stanley in a report released on Monday. They presently have a $83.00 price objective on the stock. Morgan Stanley’s price objective would suggest a potential upside of 18.27% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Maxim Group raised their price target on BeiGene from $57.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research downgraded BeiGene from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. Robert W. Baird lifted their price objective on BeiGene from $44.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of BeiGene in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. BeiGene presently has a consensus rating of “Buy” and an average target price of $62.50.
Shares of BeiGene (NASDAQ:BGNE) traded up 2.757% during mid-day trading on Monday, reaching $72.115. The company’s stock had a trading volume of 75,602 shares. The company’s 50-day moving average is $40.06 and its 200 day moving average is $37.01. The firm’s market capitalization is $2.86 billion. BeiGene has a 1-year low of $24.53 and a 1-year high of $72.24.
In other news, Director Xiaodong Wang sold 5,539 shares of BeiGene stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $40.00, for a total value of $221,560.00. Following the completion of the sale, the director now owns 55,000 shares of the company’s stock, valued at $2,200,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Oyler sold 98,500 shares of BeiGene stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $44.16, for a total value of $4,349,760.00. Following the completion of the sale, the chief executive officer now directly owns 88,535 shares of the company’s stock, valued at approximately $3,909,705.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,649 shares of company stock valued at $8,197,529. Company insiders own 24.20% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Guggenheim Capital LLC acquired a new stake in shares of BeiGene during the fourth quarter worth approximately $670,000. Norges Bank acquired a new stake in shares of BeiGene during the fourth quarter worth approximately $607,000. Vident Investment Advisory LLC increased its stake in shares of BeiGene by 9.7% in the fourth quarter. Vident Investment Advisory LLC now owns 24,958 shares of the company’s stock worth $758,000 after buying an additional 2,207 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in shares of BeiGene during the first quarter worth approximately $4,210,000. Finally, ProShare Advisors LLC increased its stake in shares of BeiGene by 42.0% in the first quarter. ProShare Advisors LLC now owns 9,872 shares of the company’s stock worth $361,000 after buying an additional 2,918 shares in the last quarter. 55.69% of the stock is owned by institutional investors and hedge funds.
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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