Price T Rowe Associates Inc. MD Has $316.86 Million Stake in BeiGene, Ltd. (NASDAQ:BGNE)

Price T Rowe Associates Inc. MD boosted its holdings in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,026,094 shares of the company’s stock after buying an additional 117,905 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.12% of BeiGene worth $316,862,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in BeiGene during the first quarter worth $50,000. Benjamin F. Edwards & Company Inc. acquired a new position in BeiGene during the fourth quarter worth $98,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in BeiGene during the fourth quarter worth $183,000. Acadian Asset Management LLC increased its position in BeiGene by 204.1% during the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after buying an additional 849 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in BeiGene during the fourth quarter worth $208,000. 48.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BeiGene news, insider Lai Wang sold 1,064 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $159.80, for a total transaction of $170,027.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other BeiGene news, insider Lai Wang sold 1,064 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $159.80, for a total transaction of $170,027.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Xiaobin Wu sold 1,459 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.79, for a total transaction of $233,133.61. The disclosure for this sale can be found here. Insiders sold a total of 6,683 shares of company stock worth $1,056,089 over the last quarter. Company insiders own 7.43% of the company’s stock.

BeiGene Stock Down 0.4 %

BGNE stock traded down $0.73 during trading on Friday, reaching $162.54. 101,487 shares of the stock were exchanged, compared to its average volume of 250,180. BeiGene, Ltd. has a twelve month low of $126.97 and a twelve month high of $225.23. The stock has a 50 day simple moving average of $154.57 and a 200-day simple moving average of $155.98. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. The firm had revenue of $751.70 million during the quarter, compared to analysts’ expectations of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. The company’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same quarter last year, the company earned ($3.34) earnings per share. Sell-side analysts expect that BeiGene, Ltd. will post -8.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BGNE shares. Bank of America lowered their price target on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. TD Cowen raised their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BeiGene currently has a consensus rating of “Moderate Buy” and an average price target of $250.75.

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.