Oppenheimer Asset Management Inc. Boosts Stake in BeiGene, Ltd. (NASDAQ:BGNE)

Oppenheimer Asset Management Inc. raised its holdings in BeiGene, Ltd. (NASDAQ:BGNE - Free Report) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,427 shares of the company's stock after purchasing an additional 3,503 shares during the period. Oppenheimer Asset Management Inc.'s holdings in BeiGene were worth $6,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BGNE. Blue Trust Inc. lifted its holdings in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company's stock worth $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in BeiGene in the 3rd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in BeiGene in the 1st quarter valued at $50,000. SG Americas Securities LLC purchased a new position in shares of BeiGene during the 3rd quarter valued at $105,000. Finally, PFG Investments LLC bought a new position in shares of BeiGene in the third quarter worth $210,000. Institutional investors own 48.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BGNE shares. 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. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Citigroup lifted their target price on shares of BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. TD Cowen increased their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, StockNews.com upgraded shares of BeiGene from a "hold" rating to a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, BeiGene currently has an average rating of "Moderate Buy" and an average target price of $247.07.

BeiGene Trading Down 2.7 %

NASDAQ BGNE traded down $5.14 during trading on Friday, hitting $188.15. 132,437 shares of the company's stock traded hands, compared to its average volume of 264,279. The stock has a fifty day moving average of $212.91 and a two-hundred day moving average of $181.72. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $248.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.75 and a current ratio of 1.93.

BeiGene (NASDAQ:BGNE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company 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 company's revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 earnings per share. As a group, equities analysts anticipate that BeiGene, Ltd. will post -5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Titus B. Ball sold 137 shares of the business'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 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 over the last three months. 7.43% of the stock is owned by company insiders.

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.