Bellevue Group AG Increases Position in BeiGene, Ltd. (NASDAQ:BGNE)

Bellevue Group AG lifted its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 129.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,729 shares of the company’s stock after purchasing an additional 33,100 shares during the period. Bellevue Group AG owned about 0.06% of BeiGene worth $13,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BGNE. Driehaus Capital Management LLC acquired a new stake in BeiGene in the second quarter valued at $1,168,000. Swedbank AB purchased a new stake in BeiGene during the first quarter worth approximately $2,596,000. The Manufacturers Life Insurance Company boosted its holdings in BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after purchasing an additional 3,915 shares in the last quarter. Barings LLC boosted its holdings in BeiGene by 66.4% in the second quarter. Barings LLC now owns 51,763 shares of the company’s stock valued at $7,385,000 after purchasing an additional 20,663 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in BeiGene by 8.9% during the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock worth $13,636,000 after purchasing an additional 7,816 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Ratings Changes

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

BeiGene Stock Performance

NASDAQ:BGNE opened at $215.00 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of -26.09 and a beta of 0.63. The firm’s fifty day moving average price is $212.42 and its 200 day moving average price is $184.63. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16.

BeiGene (NASDAQ:BGNE) last released its 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). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. During the same quarter last year, the business posted $2.01 EPS. The firm’s revenue was up 28.2% on a year-over-year basis. On average, sell-side analysts expect that BeiGene, Ltd. will post -5.38 EPS for the current year.

Insider Buying and Selling at BeiGene

In related news, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Titus B. Ball sold 137 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,538 shares of company stock valued at $12,594,017. 7.43% of the stock is owned by corporate insiders.

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.