Insider Buying: BeiGene Ltd. (BGNE) Director Acquires $960,000.00 in Stock
BeiGene Ltd. (NASDAQ:BGNE) Director Thomas Malley acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were purchased at an average cost of $32.00 per share, for a total transaction of $960,000.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at approximately $960,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
BeiGene Ltd. (NASDAQ:BGNE) opened at 31.70 on Thursday. BeiGene Ltd. has a 52 week low of $22.51 and a 52 week high of $37.89. The firm has a 50-day moving average price of $0.00 and a 200-day moving average price of $0.00.
BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by $0.30. On average, equities analysts predict that BeiGene Ltd. will post ($3.96) EPS for the current year.
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BGNE has been the topic of a number of research reports. Maxim Group set a $41.00 price objective on BeiGene and gave the company a “buy” rating in a report on Saturday, October 8th. Cowen and Company reaffirmed a “buy” rating on shares of BeiGene in a research note on Friday, October 7th. Finally, Zacks Investment Research raised BeiGene from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. BeiGene currently has an average rating of “Buy” and an average price target of $40.00.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of BeiGene by 3,410.1% in the second quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock worth $114,000 after buying an additional 3,717 shares during the last quarter. Bank of Montreal Can bought a new stake in BeiGene during the second quarter valued at about $191,000. BlackRock Institutional Trust Company N.A. raised its stake in BeiGene by 67.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,404 shares of the company’s stock valued at $191,000 after buying an additional 2,589 shares during the last quarter. Credit Suisse AG raised its stake in BeiGene by 9.1% in the third quarter. Credit Suisse AG now owns 12,000 shares of the company’s stock valued at $370,000 after buying an additional 1,000 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in BeiGene during the third quarter valued at about $455,000. 32.25% of the stock is owned by institutional investors.
BeiGene Company Profile
BeiGene, Ltd. is a biopharmaceutical company. The Company is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. It is developing its product candidate, BGB-3111, a potent and selective small molecule Bruton’s tyrosine kinase (BTK) inhibitor, as a monotherapy and in combination with other therapies for the treatment of a range of lymphomas.
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