Royal Bank of Canada trimmed its holdings in BeiGene, Ltd. (NASDAQ:BGNE – Get Rating) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,749 shares of the company’s stock after selling 4,813 shares during the quarter. Royal Bank of Canada owned approximately 0.07% of BeiGene worth $9,673,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Primecap Management Co. CA raised its holdings in shares of BeiGene by 8.7% in the second quarter. Primecap Management Co. CA now owns 4,031,449 shares of the company’s stock worth $652,490,000 after buying an additional 322,645 shares during the period. BlackRock Inc. increased its holdings in BeiGene by 3.8% during the 1st quarter. BlackRock Inc. now owns 2,699,444 shares of the company’s stock worth $509,114,000 after purchasing an additional 98,316 shares during the period. Pictet Asset Management SA increased its holdings in BeiGene by 301.5% during the 2nd quarter. Pictet Asset Management SA now owns 308,919 shares of the company’s stock worth $49,999,000 after purchasing an additional 231,976 shares during the period. Legal & General Group Plc increased its holdings in BeiGene by 10.9% during the 2nd quarter. Legal & General Group Plc now owns 284,661 shares of the company’s stock worth $46,072,000 after purchasing an additional 27,945 shares during the period. Finally, Capital Group Private Client Services Inc. increased its holdings in BeiGene by 74.2% during the 1st quarter. Capital Group Private Client Services Inc. now owns 275,197 shares of the company’s stock worth $51,902,000 after purchasing an additional 117,231 shares during the period. 51.43% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the company. Cowen raised their price objective on BeiGene from $213.00 to $262.00 and gave the stock an “outperform” rating in a report on Tuesday, February 28th. Morgan Stanley reduced their price objective on BeiGene from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Tuesday, February 28th. Cowen raised their price objective on BeiGene from $200.00 to $213.00 in a report on Thursday, November 10th. StockNews.com upgraded BeiGene from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. Finally, Daiwa Capital Markets assumed coverage on BeiGene in a report on Wednesday, January 11th. They issued a “buy” rating and a $308.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and an average price target of $292.86.
BeiGene Trading Down 4.3 %
BeiGene (NASDAQ:BGNE – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.18) by ($0.11). The business had revenue of $380.10 million during the quarter, compared to analyst estimates of $388.17 million. BeiGene had a negative return on equity of 39.72% and a negative net margin of 141.86%. The firm’s revenue for the quarter was up 77.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($6.22) EPS. As a group, equities research analysts predict that BeiGene, Ltd. will post -12.44 earnings per share for the current fiscal year.
Insider Transactions at BeiGene
In other BeiGene news, CEO John Oyler sold 6,797 shares of BeiGene stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $248.52, for a total transaction of $1,689,190.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BeiGene news, CEO John Oyler sold 6,797 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $248.52, for a total transaction of $1,689,190.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Xiaodong Wang sold 3,013 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $211.33, for a total transaction of $636,737.29. Following the completion of the sale, the insider now directly owns 5,577,556 shares in the company, valued at $1,178,704,909.48. The disclosure for this sale can be found here. Insiders sold 16,046 shares of company stock valued at $3,818,956 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.
BeiGene Company Profile
BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.
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