Beigene (NASDAQ:BGNE)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a research note issued on Wednesday.
The analysts wrote, “BeiGene announced the commercial availability of Celgene’s VIDAZA. Recall that VIDAZA is an injectable nucleoside metabolic inhibitor for patients with Intermediate-2/high-risk myelodysplastic syndrome (MDS), AML with 20-30% bone marrow blasts and chronic myelomonocyte leukemia (CMML). The asset is the third product in BeiGene’s China commercial portfolio along with Abraxane and Revlimid and positions BeiGene to be a leader in the oncology space in China.””
Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Robert W. Baird restated a “neutral” rating and issued a $83.00 price objective (up previously from $58.00) on shares of Beigene in a research note on Tuesday, November 14th. Finally, Cowen restated a “buy” rating on shares of Beigene in a research note on Tuesday, November 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Beigene currently has an average rating of “Buy” and an average target price of $96.67.
Beigene (NASDAQ:BGNE) last issued its earnings results on Monday, November 13th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $2.31. The firm had revenue of $220.21 million for the quarter, compared to analyst estimates of $1.55 million. During the same quarter in the previous year, the firm posted ($1.08) EPS. analysts forecast that Beigene will post -2.04 earnings per share for the current fiscal year.
In other Beigene news, Director Bros. Advisors Lp Baker bought 1,980,198 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was acquired at an average price of $101.00 per share, for a total transaction of $199,999,998.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Amy C. Peterson sold 3,601 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $82.96, for a total transaction of $298,738.96. Following the sale, the chief marketing officer now owns 1,201 shares of the company’s stock, valued at approximately $99,634.96. The disclosure for this sale can be found here. Insiders sold 483,482 shares of company stock valued at $42,139,474 in the last 90 days. 19.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Beigene by 3.8% during the fourth quarter. Bank of Montreal Can now owns 16,186 shares of the company’s stock worth $1,581,000 after buying an additional 600 shares during the period. Vident Investment Advisory LLC boosted its stake in shares of Beigene by 2.6% during the third quarter. Vident Investment Advisory LLC now owns 29,191 shares of the company’s stock worth $3,020,000 after buying an additional 733 shares during the period. TD Asset Management Inc. boosted its stake in shares of Beigene by 3.5% during the third quarter. TD Asset Management Inc. now owns 23,568 shares of the company’s stock worth $2,437,000 after buying an additional 800 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Beigene during the third quarter worth about $160,000. Finally, Comerica Bank acquired a new stake in shares of Beigene during the fourth quarter worth about $246,000. Institutional investors and hedge funds own 47.52% of the company’s stock.
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BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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