Connor Clark & Lunn Investment Management Ltd. Acquires 138,978 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE - Free Report) by 160.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 225,854 shares of the company's stock after purchasing an additional 138,978 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of BeiGene worth $50,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors grew its stake in BeiGene by 11.5% in the first quarter. Capital International Investors now owns 7,064,428 shares of the company's stock valued at $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of BeiGene by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company's stock valued at $831,979,000 after purchasing an additional 23,807 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company's stock valued at $316,862,000 after purchasing an additional 117,905 shares during the last quarter. Capital International Inc. CA increased its position in BeiGene by 6.0% in the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company's stock valued at $134,240,000 after acquiring an additional 48,615 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of BeiGene during the second quarter worth $54,412,000. Institutional investors own 48.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. StockNews.com upgraded BeiGene from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on BeiGene from $200.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. JMP Securities started coverage on BeiGene in a research report on Wednesday, September 18th. They set a "market outperform" rating and a $288.00 target price for the company. Finally, TD Cowen boosted their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, BeiGene has a consensus rating of "Moderate Buy" and a consensus price target of $247.07.

BeiGene Trading Up 3.5 %

NASDAQ:BGNE traded up $6.49 during mid-day trading on Wednesday, hitting $194.26. The company had a trading volume of 261,727 shares, compared to its average volume of 265,582. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 1.93. BeiGene, Ltd. has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The business's fifty day moving average is $212.60 and its two-hundred day moving average is $182.77. The firm has a market cap of $18.92 billion, a P/E ratio of -23.63 and a beta of 0.63.

BeiGene (NASDAQ:BGNE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter last year, the company posted $2.01 earnings per share. The firm's quarterly revenue was up 28.2% on a year-over-year basis. As a group, research analysts expect that BeiGene, Ltd. will post -5.57 earnings per share for the current year.

Insider Transactions at BeiGene

In other BeiGene news, insider Titus B. Ball sold 137 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction that occurred on 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 quarter, insiders have sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is currently owned by company 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.