The Manufacturers Life Insurance Company Boosts Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

The Manufacturers Life Insurance Company lifted its stake in BeiGene, Ltd. (NASDAQ:BGNE - Free Report) by 14.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,384 shares of the company's stock after purchasing an additional 7,122 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of BeiGene worth $12,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company's stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in BeiGene during the 3rd quarter worth about $36,000. SG Americas Securities LLC purchased a new stake in BeiGene during the 3rd quarter worth about $105,000. PFG Investments LLC acquired a new position in shares of BeiGene during the 3rd quarter worth about $210,000. Finally, Truist Financial Corp increased its holdings in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company's stock valued at $217,000 after acquiring an additional 140 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen increased their price target on shares of BeiGene from $254.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Morgan Stanley reaffirmed an "overweight" rating and issued a $300.00 target price on shares of BeiGene in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of BeiGene from $200.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Finally, JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 target price for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.69.

BeiGene Stock Performance

Shares of BGNE stock traded up $0.39 during midday trading on Tuesday, hitting $206.14. The company had a trading volume of 84,637 shares, compared to its average volume of 273,089. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of -24.97 and a beta of 0.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. The company's 50 day simple moving average is $212.51 and its 200 day simple moving average is $185.01. BeiGene, Ltd. has a 52-week low of $126.97 and a 52-week high of $248.16.

BeiGene (NASDAQ:BGNE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $983.26 million. During the same quarter last year, the business earned $2.01 earnings per share. The business's quarterly revenue was up 28.2% on a year-over-year basis. Research analysts anticipate that BeiGene, Ltd. will post -5.38 earnings per share for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 500 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $200.00, for a total value of $100,000.00. Following the completion of the sale, the chief operating officer now owns 4,500 shares of the company's stock, valued at approximately $900,000. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,845 shares of company stock valued at $11,514,300. 7.43% of the stock is owned by corporate insiders.

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.