Bank of Montreal Can lifted its position in Beigene Ltd (NASDAQ:BGNE) by 13.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,538 shares of the company’s stock after purchasing an additional 1,674 shares during the quarter. Bank of Montreal Can’s holdings in Beigene were worth $1,920,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Beigene by 2.3% in the fourth quarter. FMR LLC now owns 5,594,173 shares of the company’s stock valued at $784,639,000 after purchasing an additional 128,072 shares during the period. Hillhouse Capital Advisors Ltd. purchased a new stake in shares of Beigene in the fourth quarter valued at about $622,467,000. BlackRock Inc. grew its holdings in shares of Beigene by 294.9% in the fourth quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock valued at $263,281,000 after purchasing an additional 1,401,773 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Beigene by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,121,497 shares of the company’s stock valued at $157,288,000 after purchasing an additional 5,627 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Beigene by 11.0% in the third quarter. Vanguard Group Inc. now owns 1,064,236 shares of the company’s stock valued at $183,283,000 after purchasing an additional 105,702 shares during the period.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Beigene from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Maxim Group set a $170.00 target price on shares of Beigene and gave the stock a “buy” rating in a research note on Thursday, February 28th. ValuEngine lowered shares of Beigene from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 15th. Sanford C. Bernstein started coverage on shares of Beigene in a research note on Tuesday, June 4th. They set an “outperform” rating and a $201.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Beigene from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. Beigene currently has a consensus rating of “Buy” and an average price target of $182.28.
Shares of NASDAQ BGNE traded up $4.42 during midday trading on Tuesday, hitting $127.63. The company’s stock had a trading volume of 276,534 shares, compared to its average volume of 332,394. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.47 and a current ratio of 7.52. Beigene Ltd has a 1 year low of $105.19 and a 1 year high of $207.77. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of -10.50 and a beta of 1.11.
Beigene (NASDAQ:BGNE) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.81) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.15) by $0.34. Beigene had a negative net margin of 302.58% and a negative return on equity of 44.75%. The business had revenue of $77.83 million during the quarter, compared to analyst estimates of $55.79 million. During the same quarter last year, the firm posted ($2.03) earnings per share. The business’s revenue for the quarter was up 139.2% compared to the same quarter last year. Equities analysts predict that Beigene Ltd will post -13.16 EPS for the current fiscal year.
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Beigene Company Profile
BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.
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