BeiGene, Ltd. (NASDAQ:BGNE) Holdings Lifted by Citigroup Inc.

Citigroup Inc. raised its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,312 shares of the company’s stock after purchasing an additional 5,410 shares during the period. Citigroup Inc.’s holdings in BeiGene were worth $5,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGNE. Massachusetts Financial Services Co. MA acquired a new position in BeiGene during the 3rd quarter worth $2,666,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in BeiGene by 0.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock valued at $21,978,000 after purchasing an additional 266 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in BeiGene by 160.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock valued at $50,706,000 after buying an additional 138,978 shares during the last quarter. LMR Partners LLP bought a new position in BeiGene in the 3rd quarter worth approximately $1,535,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of BeiGene by 13.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 30,427 shares of the company’s stock valued at $6,831,000 after acquiring an additional 3,503 shares during the period. Institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BeiGene Stock Performance

NASDAQ:BGNE opened at $215.00 on Monday. The stock has a market capitalization of $20.94 billion, a P/E ratio of -26.09 and a beta of 0.63. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $248.16. The firm has a 50 day moving average of $212.42 and a 200-day moving average of $184.77. 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 (NASDAQ:BGNE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. BeiGene’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the company earned $2.01 earnings per share. As a group, sell-side analysts anticipate that BeiGene, Ltd. will post -5.38 EPS for the current fiscal year.

Insider Transactions at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 6,175 shares of BeiGene 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 63,538 shares of company stock worth $12,594,017. 7.43% of the stock is currently owned by company insiders.

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.