Raymond James & Associates Sells 7,025 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Raymond James & Associates lowered its stake in BeiGene, Ltd. (NASDAQ:BGNE) by 33.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,250 shares of the company’s stock after selling 7,025 shares during the period. Raymond James & Associates’ holdings in BeiGene were worth $3,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BGNE. Blue Trust Inc. boosted its holdings in BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of BeiGene during the 1st quarter valued at $50,000. SG Americas Securities LLC bought a new stake in shares of BeiGene during the 3rd quarter valued at $105,000. Acadian Asset Management LLC increased its holdings in BeiGene by 204.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after acquiring an additional 849 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in BeiGene in the 1st quarter valued at $209,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Insider Activity

In other news, COO Xiaobin Wu sold 5,556 shares of the 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 is available through the SEC website. In other BeiGene news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Insiders sold 23,070 shares of company stock worth $4,901,050 over the last three months. Insiders own 7.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BGNE. Citigroup lifted their price target on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. Finally, Bank of America lowered their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.21.

BeiGene Trading Up 1.5 %

Shares of BeiGene stock opened at $207.25 on Tuesday. The firm’s 50 day simple moving average is $211.76 and its two-hundred day simple moving average is $178.98. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of -40.80 and a beta of 0.63. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its quarterly 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 net margin of 16.91% and a negative return on equity of 14.93%. The firm had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. During the same period in the prior year, the firm posted ($3.64) earnings per share. The firm’s quarterly revenue was up 56.1% compared to the same quarter last year. Analysts predict that BeiGene, Ltd. will post -5 EPS for the current year.

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.