The Manufacturers Life Insurance Company Raises Position in BeiGene, Ltd. (NASDAQ:BGNE)

The Manufacturers Life Insurance Company grew its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,262 shares of the company’s stock after buying an additional 3,915 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of BeiGene worth $7,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in BeiGene in the 1st quarter worth about $50,000. Benjamin F. Edwards & Company Inc. boosted its holdings in BeiGene by 51.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after purchasing an additional 279 shares during the last quarter. Acadian Asset Management LLC grew its position in BeiGene by 204.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after purchasing an additional 849 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in BeiGene during the 1st quarter valued at $209,000. Finally, LVW Advisors LLC lifted its holdings in shares of BeiGene by 50.2% during the 1st quarter. LVW Advisors LLC now owns 1,957 shares of the company’s stock valued at $306,000 after buying an additional 654 shares during the period. Institutional investors own 48.55% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. Insiders sold 17,729 shares of company stock worth $3,601,007 in the last three months. 7.43% of the stock is owned by company insiders.

BeiGene Stock Up 5.3 %

Shares of BGNE stock opened at $246.04 on Friday. The company has a market capitalization of $23.84 billion, a price-to-earnings ratio of -32.50 and a beta of 0.62. 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 company’s fifty day moving average price is $195.21 and its 200-day moving average price is $168.37. BeiGene, Ltd. has a one year low of $126.97 and a one year high of $248.16.

BeiGene (NASDAQ:BGNE) last announced 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. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. During the same period in the previous year, the business earned ($3.64) earnings per share. The business’s revenue 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 fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. 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 price objective on the stock. Citigroup upped their target price on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America reduced their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, BeiGene currently has an average rating of “Moderate Buy” and a consensus price target of $241.21.

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.