Point72 Asset Management L.P. Purchases New Stake in BeiGene, Ltd. (NASDAQ:BGNE)

Point72 Asset Management L.P. acquired a new stake in shares of BeiGene, Ltd. (NASDAQ:BGNE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 381,382 shares of the company's stock, valued at approximately $54,412,000. Point72 Asset Management L.P. owned about 0.39% of BeiGene at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Capital International Investors lifted its holdings in shares of BeiGene by 11.5% in the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company's stock valued at $1,104,806,000 after acquiring an additional 727,556 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of BeiGene by 6.2% during 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 buying an additional 117,905 shares during the last quarter. Capital International Inc. CA lifted its stake in shares of 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 purchasing an additional 48,615 shares during the period. First Trust Advisors LP acquired a new stake in shares of BeiGene during the 4th quarter valued at about $39,632,000. Finally, Goldman Sachs Group Inc. boosted its position in BeiGene by 175.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company's stock worth $38,658,000 after purchasing an additional 136,458 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

BeiGene Stock Up 3.2 %

Shares of BeiGene stock traded up $6.66 during trading on Thursday, reaching $213.38. The company had a trading volume of 193,507 shares, compared to its average volume of 248,077. BeiGene, Ltd. has a fifty-two week low of $126.97 and a fifty-two week high of $215.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98. The firm's fifty day moving average is $185.50 and its 200-day moving average is $165.44. The company has a market cap of $20.68 billion, a price-to-earnings ratio of -28.17 and a beta of 0.61.

BeiGene (NASDAQ:BGNE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating analysts' consensus estimates of ($2.27) by $1.12. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The business had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same quarter last year, the business earned ($3.64) earnings per share. The business's revenue for the quarter was up 56.1% on a year-over-year basis. On average, analysts anticipate that BeiGene, Ltd. will post -5.13 EPS for the current year.

Wall Street Analyst Weigh In

BGNE has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a report on Thursday, August 8th. JMP Securities began coverage on BeiGene in a research report on Wednesday, September 18th. They set a "market outperform" rating and a $288.00 price objective on the stock. Bank of America lowered their target price on shares of BeiGene from $180.00 to $152.50 and set a "neutral" rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of BeiGene from $194.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $241.21.

Insider Transactions at BeiGene

In related news, CFO Julia Aijun Wang sold 472 shares of the business's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total value of $67,920.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Chan Henry Lee sold 834 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The disclosure for this sale can be found here. Insiders sold a total of 11,999 shares of company stock valued at $2,282,183 over the last quarter. Company insiders own 7.43% of the company's stock.

About BeiGene

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.