Stifel Financial Corp Sells 4,366 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Stifel Financial Corp trimmed its holdings in BeiGene, Ltd. (NASDAQ:BGNE) by 25.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,807 shares of the company’s stock after selling 4,366 shares during the period. Stifel Financial Corp’s holdings in BeiGene were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Quantinno Capital Management LP bought a new position in BeiGene in the 3rd quarter valued at about $295,000. Point72 Asset Management L.P. increased its holdings in BeiGene by 74.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after purchasing an additional 285,784 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BeiGene in the third quarter worth approximately $67,000. Erste Asset Management GmbH bought a new position in shares of BeiGene in the third quarter valued at approximately $4,478,000. Finally, Bellevue Group AG boosted its position in shares of BeiGene by 129.2% during the third quarter. Bellevue Group AG now owns 58,729 shares of the company’s stock valued at $13,185,000 after buying an additional 33,100 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BGNE. StockNews.com cut BeiGene from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Morgan Stanley reissued an “overweight” rating and set a $300.00 price target on shares of BeiGene in a research report on Tuesday, December 3rd. TD Cowen upped their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities assumed coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and an average target price of $253.69.

Insider Buying and Selling

In other news, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Xiaodong Wang sold 41,760 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $186.90, for a total transaction of $7,804,944.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,136,122 shares of company stock valued at $213,421,417. Company insiders own 7.43% of the company’s stock.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $179.06 on Wednesday. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of -21.64 and a beta of 0.57. The stock has a fifty day simple moving average of $205.89 and a two-hundred day simple moving average of $187.30. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company’s revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business posted $2.01 EPS. Analysts anticipate that BeiGene, Ltd. will post -5.64 earnings per share for the current year.

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.