UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in BeiGene, Ltd. (NASDAQ:BGNE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in BeiGene, Ltd. (NASDAQ:BGNE) by 21.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,786 shares of the company’s stock after selling 1,021 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in BeiGene were worth $850,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new position in BeiGene in the 2nd quarter valued at $1,168,000. The Manufacturers Life Insurance Company lifted its stake in shares of BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock worth $7,171,000 after buying an additional 3,915 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of BeiGene by 160.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after buying an additional 138,978 shares in the last quarter. Van ECK Associates Corp boosted its position in BeiGene by 8.9% during the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock worth $13,636,000 after acquiring an additional 7,816 shares during the last quarter. Finally, Barings LLC grew its stake in BeiGene by 66.4% during the 2nd quarter. Barings LLC now owns 51,763 shares of the company’s stock valued at $7,385,000 after acquiring an additional 20,663 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BGNE. 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 research note on Tuesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and set a $300.00 price objective on shares of BeiGene in a research report on Tuesday, December 3rd. TD Cowen upped their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. StockNews.com lowered BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, JMP Securities assumed coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.69.

BeiGene Stock Down 0.7 %

Shares of BGNE opened at $174.72 on Friday. The company’s 50-day moving average price is $202.18 and its 200 day moving average price is $187.34. BeiGene, Ltd. has a 12-month low of $126.97 and a 12-month high of $248.16. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The firm has a market cap of $17.02 billion, a P/E ratio of -21.20 and a beta of 0.57.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings results 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 company 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%. BeiGene’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the firm posted $2.01 earnings per share. On average, sell-side analysts forecast that BeiGene, Ltd. will post -5.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total value of $284,994.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Xiaodong Wang sold 41,760 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $186.90, for a total transaction of $7,804,944.00. The disclosure for this sale can be found here. Insiders have sold 1,131,622 shares of company stock worth $212,520,787 over the last ninety days. Corporate insiders own 7.43% of the company’s stock.

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.