M&G Plc Lowers Stock Position in BeiGene, Ltd. (NASDAQ:BGNE)

M&G PLC lowered its position in shares of BeiGene, Ltd. (NASDAQ:BGNE - Free Report) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,075 shares of the company's stock after selling 6,704 shares during the quarter. M&G PLC owned approximately 0.18% of BeiGene worth $38,942,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its holdings in shares of BeiGene by 14.5% during the third quarter. Asset Management One Co. Ltd. now owns 20,453 shares of the company's stock valued at $4,592,000 after acquiring an additional 2,593 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of BeiGene by 69.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,510 shares of the company's stock valued at $1,911,000 after acquiring an additional 3,486 shares during the last quarter. PFG Investments LLC acquired a new position in shares of BeiGene during the third quarter valued at approximately $210,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of BeiGene in the third quarter valued at approximately $36,000. Finally, Blue Trust Inc. grew its position in shares of BeiGene by 156.3% in the third 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. Institutional investors and hedge funds own 48.55% of the company's stock.

BeiGene Stock Up 2.0 %

Shares of NASDAQ BGNE traded up $4.09 during mid-day trading on Thursday, hitting $206.82. The company had a trading volume of 127,571 shares, compared to its average volume of 264,578. The company has a market capitalization of $20.13 billion, a PE ratio of -39.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16. The business's 50-day simple moving average is $211.97 and its 200 day simple moving average is $179.69.

BeiGene (NASDAQ:BGNE - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping analysts' consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to analysts' expectations of $810.34 million. During the same quarter in the previous year, the firm earned ($3.64) earnings per share. The business's revenue was up 56.1% compared to the same quarter last year. On average, analysts predict that BeiGene, Ltd. will post -5 earnings per share for the current year.

Insider Transactions at BeiGene

In other news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Chan Henry Lee sold 1,202 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Oyler sold 6,175 shares of the firm's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,070 shares of company stock worth $4,901,050. Corporate insiders own 7.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. Citigroup upped their price target on BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Finally, JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, BeiGene presently has a consensus rating of "Moderate Buy" and a consensus target price of $246.21.

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.