Maverick Capital Ltd. bought a new stake in BeiGene, Ltd. (NASDAQ:BGNE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,463 shares of the company’s stock, valued at approximately $1,205,000.
Several other institutional investors have also recently bought and sold shares of BGNE. Marshall Wace North America L.P. acquired a new stake in shares of BeiGene during the 1st quarter worth approximately $76,000. Assetmark Inc. increased its stake in BeiGene by 18.0% during the first quarter. Assetmark Inc. now owns 229 shares of the company’s stock worth $80,000 after acquiring an additional 35 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new stake in BeiGene in the first quarter valued at $122,000. Signaturefd LLC lifted its stake in shares of BeiGene by 71.5% in the 1st quarter. Signaturefd LLC now owns 427 shares of the company’s stock valued at $149,000 after purchasing an additional 178 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of BeiGene by 18.2% in the 1st quarter. IFP Advisors Inc now owns 499 shares of the company’s stock valued at $173,000 after purchasing an additional 77 shares during the last quarter. 61.28% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on BGNE shares. SVB Leerink boosted their price objective on shares of BeiGene from $388.00 to $417.00 and gave the company an “outperform” rating in a report on Monday, June 14th. Zacks Investment Research raised shares of BeiGene from a “sell” rating to a “hold” rating in a research note on Tuesday, May 11th. Finally, Morgan Stanley increased their price objective on shares of BeiGene from $357.00 to $409.00 and gave the stock an “overweight” rating in a research report on Thursday, June 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $342.63.
NASDAQ BGNE opened at $306.62 on Thursday. The company has a current ratio of 4.62, a quick ratio of 4.56 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of -22.50 and a beta of 0.86. The company has a 50 day simple moving average of $338.63. BeiGene, Ltd. has a one year low of $204.17 and a one year high of $388.97.
BeiGene (NASDAQ:BGNE) last released its earnings results on Friday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.90) by $2.59. The company had revenue of $605.87 million for the quarter, compared to analyst estimates of $103.90 million. BeiGene had a negative net margin of 135.24% and a negative return on equity of 31.71%. As a group, analysts forecast that BeiGene, Ltd. will post -10.64 EPS for the current fiscal year.
BeiGene, Ltd. discovers, develops, manufactures, and commercializes medicines for cancer therapeutics in the People's Republic of China and the United States. Its products include BRUKINSA to treat relapsed/refractory (R/R) mantle cell lymphoma; Tislelizumab to treat R/R classical Hodgkin's lymphoma; ABRAXANE to treat breast cancer; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; XGEVA to treat giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; Pamiparib for the treatment of various solid tumors; and BAT1706 to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC).
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