LMR Partners LLP Buys New Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

LMR Partners LLP bought a new stake in BeiGene, Ltd. (NASDAQ:BGNE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,838 shares of the company’s stock, valued at approximately $1,535,000.

Several other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Raymond James & Associates lifted its position in BeiGene by 0.4% during the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after acquiring an additional 76 shares during the last quarter. Truist Financial Corp lifted its position in BeiGene by 10.1% during the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in BeiGene during the third quarter worth approximately $36,000. Finally, ProShare Advisors LLC lifted its position in BeiGene by 8.1% during the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock worth $454,000 after acquiring an additional 217 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BGNE. 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 research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. JMP Securities began coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. StockNews.com raised shares of BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup raised their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Stock Performance

Shares of NASDAQ:BGNE opened at $187.69 on Tuesday. The company’s 50 day simple moving average is $212.91 and its 200 day simple moving average is $182.40. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of -22.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.75. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $1 billion during 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%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business earned $2.01 earnings per share. As a group, research analysts predict that BeiGene, Ltd. will post -5.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,070 shares of company stock valued at $4,901,050. 7.43% of the stock is currently owned by 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.