The Manufacturers Life Insurance Company Increases Stake in BeiGene, Ltd. (NASDAQ:BGNE)

The Manufacturers Life Insurance Company increased its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 14.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,384 shares of the company’s stock after buying an additional 7,122 shares during the period. The Manufacturers Life Insurance Company’s holdings in BeiGene were worth $12,883,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of BeiGene by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock worth $831,979,000 after acquiring an additional 23,807 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in BeiGene in the second quarter valued at approximately $54,412,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after purchasing an additional 138,978 shares in the last quarter. TD Asset Management Inc lifted its position in shares of BeiGene by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock worth $16,318,000 after buying an additional 1,599 shares during the last quarter. Finally, Affinity Asset Advisors LLC boosted its holdings in shares of BeiGene by 33.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 110,000 shares of the company’s stock valued at $15,694,000 after buying an additional 27,857 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BGNE. StockNews.com cut shares of BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. TD Cowen upped their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JMP Securities initiated coverage on BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Citigroup lifted 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, BeiGene has an average rating of “Moderate Buy” and a consensus price target of $247.07.

BeiGene Price Performance

Shares of NASDAQ BGNE opened at $205.75 on Tuesday. The stock has a fifty day moving average price of $212.51 and a 200 day moving average price of $185.01. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. The company has a market cap of $20.04 billion, a PE ratio of -24.97 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm’s revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.01 EPS. Sell-side analysts forecast that BeiGene, Ltd. will post -5.38 EPS for the current year.

Insiders Place Their Bets

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Xiaobin Wu sold 500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $200.00, for a total transaction of $100,000.00. Following the completion of the transaction, the chief operating officer now owns 4,500 shares of the company’s stock, valued at $900,000. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,845 shares of company stock worth $11,514,300. Company insiders own 7.43% of the company’s stock.

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.