Bleakley Financial Group LLC Lowers Position in BeiGene, Ltd. (NASDAQ:BGNE)

Bleakley Financial Group LLC lessened its stake in BeiGene, Ltd. (NASDAQ:BGNE) by 27.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,031 shares of the company’s stock after selling 1,508 shares during the quarter. Bleakley Financial Group LLC’s holdings in BeiGene were worth $905,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in BeiGene during the 3rd quarter valued at $105,000. Sanctuary Advisors LLC purchased a new stake in shares of BeiGene in the second quarter valued at about $1,038,000. Truist Financial Corp lifted its position in shares of BeiGene by 10.1% during the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after purchasing an additional 140 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in BeiGene during the second quarter worth about $1,168,000. Finally, The Manufacturers Life Insurance Company grew its position in BeiGene by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after purchasing an additional 3,915 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Stock Performance

Shares of BGNE opened at $218.97 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. The firm has a market cap of $21.22 billion, a PE ratio of -28.93 and a beta of 0.62. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $248.16. The stock’s fifty day moving average price is $207.37 and its two-hundred day moving average price is $173.58.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating the consensus estimate of ($2.27) by $1.12. The business had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The company’s revenue was up 56.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.64) earnings per share. On average, equities research analysts forecast that BeiGene, Ltd. will post -5.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on BGNE. JMP Securities began 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. Bank of America dropped their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Citigroup raised their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.21.

Insider Buying and Selling

In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total transaction of $133,915.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Chan Henry Lee sold 834 shares of the 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. In the last ninety days, insiders sold 23,904 shares of company stock valued at $5,034,965. Company 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.