Driehaus Capital Management LLC Buys New Shares in BeiGene, Ltd. (NASDAQ:BGNE)

Driehaus Capital Management LLC bought a new stake in BeiGene, Ltd. (NASDAQ:BGNE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,185 shares of the company’s stock, valued at approximately $1,168,000.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in BeiGene in the first quarter valued at $2,596,000. AIA Group Ltd boosted its position in BeiGene by 38.9% during the first quarter. AIA Group Ltd now owns 18,497 shares of the company’s stock valued at $2,893,000 after buying an additional 5,181 shares during the period. M&G Plc purchased a new stake in BeiGene during the first quarter valued at about $29,649,000. Van ECK Associates Corp boosted its position in BeiGene by 8.9% during the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock valued at $13,636,000 after buying an additional 7,816 shares during the period. Finally, Barings LLC boosted its position in BeiGene by 66.4% during the second quarter. Barings LLC now owns 51,763 shares of the company’s stock valued at $7,385,000 after buying an additional 20,663 shares during the period. Institutional investors own 48.55% of the company’s stock.

Insiders Place Their Bets

In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BeiGene news, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Chan Henry Lee sold 834 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was 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. Insiders sold 11,527 shares of company stock worth $2,214,263 over the last three months. Company insiders own 7.43% of the company’s stock.

Wall Street Analyst Weigh In

BGNE has been the subject of several analyst reports. Citigroup upped their price target on shares of 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 shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target for the company. Bank of America cut their price target 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. Finally, JPMorgan Chase & Co. upped their price target on shares of BeiGene from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.21.

BeiGene Stock Performance

BeiGene stock opened at $218.42 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $187.99 and a 200-day moving average of $166.15. The firm has a market cap of $21.17 billion, a P/E ratio of -28.85 and a beta of 0.61. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $223.96.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share 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 company had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. During the same period in the prior year, the business posted ($3.64) earnings per share. BeiGene’s revenue for the quarter was up 56.1% on a year-over-year basis. Sell-side analysts expect that BeiGene, Ltd. will post -5.13 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.