Virtus Fund Advisers LLC acquired a new position in Beigene Ltd (NASDAQ:BGNE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,733 shares of the company’s stock, valued at approximately $365,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BGNE. Canada Pension Plan Investment Board purchased a new stake in shares of Beigene in the third quarter worth $62,076,000. Janus Henderson Group PLC purchased a new stake in shares of Beigene in the third quarter worth $33,744,000. Artal Group S.A. increased its stake in shares of Beigene by 33.3% in the fourth quarter. Artal Group S.A. now owns 300,000 shares of the company’s stock worth $29,316,000 after purchasing an additional 75,000 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of Beigene in the third quarter worth $4,912,000. Finally, Orbimed Advisors LLC increased its stake in shares of Beigene by 2.0% in the third quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock worth $135,925,000 after purchasing an additional 26,200 shares in the last quarter. 49.35% of the stock is owned by hedge funds and other institutional investors.
Beigene Ltd (BGNE) opened at $155.96 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33. Beigene Ltd has a 12-month low of $34.36 and a 12-month high of $164.15. The firm has a market cap of $8,233.60, a price-to-earnings ratio of -119.97 and a beta of 0.61.
A number of brokerages have recently issued reports on BGNE. Maxim Group reissued a “buy” rating on shares of Beigene in a research note on Wednesday, February 7th. ValuEngine raised shares of Beigene from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub raised shares of Beigene from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of Beigene from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Finally, Cowen reissued a “buy” rating on shares of Beigene in a research note on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Beigene currently has an average rating of “Buy” and a consensus price target of $96.67.
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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