Massachusetts Financial Services Co. MA Makes New $2.67 Million Investment in BeiGene, Ltd. (NASDAQ:BGNE)

Massachusetts Financial Services Co. MA acquired a new position in shares of BeiGene, Ltd. (NASDAQ:BGNE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,874 shares of the company’s stock, valued at approximately $2,666,000.

Several other hedge funds have also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in BeiGene by 0.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock worth $21,978,000 after acquiring an additional 266 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares during the period. LMR Partners LLP bought a new position in shares of BeiGene during the third quarter worth approximately $1,535,000. Oppenheimer Asset Management Inc. increased its holdings in shares of BeiGene by 13.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 30,427 shares of the company’s stock worth $6,831,000 after purchasing an additional 3,503 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in shares of BeiGene by 0.6% during the third quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock worth $831,979,000 after purchasing an additional 23,807 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BGNE shares. JMP Securities started coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. TD Cowen raised their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup raised their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com cut shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Stock Performance

Shares of NASDAQ:BGNE opened at $192.11 on Wednesday. The company’s 50 day simple moving average is $211.94 and its 200 day simple moving average is $183.56. The stock has a market capitalization of $18.71 billion, a price-to-earnings ratio of -23.31 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $248.16.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the business earned $2.01 EPS. The business’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, research analysts predict that BeiGene, Ltd. will post -5.38 EPS for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The disclosure for this sale can be found here. Insiders have sold 23,070 shares of company stock worth $4,901,050 over the last quarter. Corporate insiders own 7.43% of the company’s stock.

About BeiGene

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.