BeiGene, Ltd. (NASDAQ:BGNE) has been assigned a $120.00 price objective by equities researchers at Maxim Group in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the stock. Maxim Group’s target price suggests a potential upside of 50.75% from the company’s previous close.
Several other research analysts have also recently issued reports on BGNE. Ladenburg Thalmann Financial Services started coverage on BeiGene in a research note on Monday, August 7th. They issued a “buy” rating and a $81.00 price target for the company. Zacks Investment Research lowered BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $86.00 price objective (up previously from $43.00) on shares of BeiGene in a report on Tuesday, August 15th. Morgan Stanley restated an “overweight” rating and issued a $95.00 price objective (up previously from $87.00) on shares of BeiGene in a report on Friday, October 6th. Finally, 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 report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $96.67.
BeiGene (BGNE) opened at $79.60 on Tuesday. BeiGene has a 52 week low of $26.43 and a 52 week high of $118.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 8.38 and a current ratio of 8.38.
BeiGene (NASDAQ:BGNE) last released its quarterly earnings results on Monday, November 13th. The company reported $2.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $2.31. The business had revenue of $220.21 million during the quarter, compared to the consensus estimate of $1.55 million. During the same period in the previous year, the company posted ($1.08) EPS. sell-side analysts anticipate that BeiGene will post -5.12 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hillhouse Capital Management Ltd. lifted its holdings in shares of BeiGene by 172.6% during the second quarter. Hillhouse Capital Management Ltd. now owns 3,720,726 shares of the company’s stock valued at $167,433,000 after purchasing an additional 2,355,906 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of BeiGene by 2.0% during the third quarter. Orbimed Advisors LLC now owns 1,313,788 shares of the company’s stock valued at $135,925,000 after purchasing an additional 26,200 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of BeiGene during the third quarter valued at $62,076,000. Artal Group S.A. lifted its holdings in shares of BeiGene by 10.1% during the second quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock valued at $18,000,000 after purchasing an additional 36,714 shares during the last quarter. Finally, Myriad Asset Management Ltd. lifted its holdings in shares of BeiGene by 16.6% during the second quarter. Myriad Asset Management Ltd. now owns 385,585 shares of the company’s stock valued at $17,351,000 after purchasing an additional 54,900 shares during the last quarter. 52.09% of the stock is owned by institutional investors and hedge funds.
BeiGene Company Profile
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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