Bleakley Financial Group LLC Trims Stake in BeiGene, Ltd. (NASDAQ:BGNE)

Bleakley Financial Group LLC lowered its holdings in BeiGene, Ltd. (NASDAQ:BGNE) by 27.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,031 shares of the company’s stock after selling 1,508 shares during the period. Bleakley Financial Group LLC’s holdings in BeiGene were worth $905,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of BeiGene in the third quarter worth approximately $105,000. Sanctuary Advisors LLC bought a new position in shares of BeiGene in the 2nd quarter worth $1,038,000. Truist Financial Corp raised its position in shares of BeiGene by 10.1% during the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of BeiGene during the 2nd quarter worth $1,168,000. Finally, The Manufacturers Life Insurance Company grew its position in BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after acquiring an additional 3,915 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

BeiGene Price Performance

Shares of BeiGene stock opened at $218.97 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. BeiGene, Ltd. has a one year low of $126.97 and a one year high of $248.16. The business’s 50 day simple moving average is $207.37 and its two-hundred day simple moving average is $173.58. The stock has a market capitalization of $21.22 billion, a P/E ratio of -28.93 and a beta of 0.62.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($2.27) by $1.12. The company had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm’s revenue for the quarter was up 56.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.64) earnings per share. Analysts forecast that BeiGene, Ltd. will post -5.07 EPS for the current year.

Insider Activity

In related news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,904 shares of company stock valued at $5,034,965. Insiders own 7.43% of the company’s stock.

Analysts Set New Price Targets

BGNE has been the topic of a number of research reports. JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. Bank of America decreased their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene 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.