Massachusetts Financial Services Co. MA Invests $2.67 Million in BeiGene, Ltd. (NASDAQ:BGNE)

Massachusetts Financial Services Co. MA purchased a new position in BeiGene, Ltd. (NASDAQ:BGNE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,874 shares of the company's stock, valued at approximately $2,666,000.

Other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in shares of BeiGene by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company's stock worth $831,979,000 after buying an additional 23,807 shares during the period. Point72 Asset Management L.P. purchased a new stake in BeiGene in the 2nd quarter worth $54,412,000. Connor Clark & Lunn Investment Management Ltd. raised its position in BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company's stock worth $50,706,000 after acquiring an additional 138,978 shares during the period. TD Asset Management Inc lifted its holdings in BeiGene by 1.4% during the second quarter. TD Asset Management Inc now owns 114,378 shares of the company's stock valued at $16,318,000 after purchasing an additional 1,599 shares in the last quarter. Finally, Affinity Asset Advisors LLC lifted its holdings in BeiGene by 33.9% during the second quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company's stock valued at $15,694,000 after purchasing an additional 27,857 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeiGene Trading Up 7.3 %

NASDAQ:BGNE traded up $14.05 on Wednesday, hitting $206.16. The stock had a trading volume of 341,269 shares, compared to its average volume of 266,123. The company has a fifty day moving average price of $211.83 and a two-hundred day moving average price of $183.78. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of -24.80 and a beta of 0.63.

BeiGene (NASDAQ:BGNE - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm's quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 EPS. Equities research analysts expect that BeiGene, Ltd. will post -5.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BGNE. Citigroup raised their price target 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. JPMorgan Chase & Co. increased their target price on BeiGene from $200.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. TD Cowen lifted their price target on BeiGene from $254.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. JMP Securities began coverage on BeiGene in a research note on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 price objective for the company. Finally, StockNews.com lowered BeiGene from a "buy" rating to a "hold" rating in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $247.07.

Insider Activity

In other news, insider Titus B. Ball sold 137 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Insiders have sold a total of 23,070 shares of company stock valued at $4,901,050 in the last quarter. Insiders own 7.43% of the company's stock.

BeiGene 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.