Point72 Asset Management L.P. Buys Shares of 381,382 BeiGene, Ltd. (NASDAQ:BGNE)

Point72 Asset Management L.P. purchased a new position in BeiGene, Ltd. (NASDAQ:BGNE) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 381,382 shares of the company’s stock, valued at approximately $54,412,000.

Other large investors also recently modified their holdings of the company. Capital International Investors lifted its holdings in BeiGene by 11.5% in the first quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares during the period. First Trust Advisors LP acquired a new position in BeiGene during the 4th quarter valued at about $39,632,000. M&G Plc bought a new stake in shares of BeiGene during the 1st quarter worth about $29,649,000. Goldman Sachs Group Inc. raised its position in shares of BeiGene by 175.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock worth $38,658,000 after buying an additional 136,458 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after acquiring an additional 117,905 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

BeiGene Price Performance

NASDAQ BGNE opened at $206.72 on Thursday. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $215.00. The business’s fifty day moving average is $185.50 and its two-hundred day moving average is $165.44. The stock has a market capitalization of $20.10 billion, a P/E ratio of -27.31 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.98.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same period in the previous year, the firm earned ($3.64) earnings per share. BeiGene’s revenue for the quarter was up 56.1% compared to the same quarter last year. On average, research analysts forecast that BeiGene, Ltd. will post -5.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total transaction of $67,920.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,999 shares of company stock worth $2,282,183. Company insiders own 7.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BGNE shares. JPMorgan Chase & Co. raised their price objective on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Citigroup lifted their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JMP Securities initiated coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. Finally, Bank of America decreased their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, BeiGene currently has an average rating of “Moderate Buy” and a consensus price target of $241.21.

BeiGene Company Profile

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.