Van ECK Associates Corp Sells 56,689 Shares of BeiGene, Ltd. (NASDAQ:BGNE)

Van ECK Associates Corp reduced its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 59.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,888 shares of the company’s stock after selling 56,689 shares during the quarter. Van ECK Associates Corp’s holdings in BeiGene were worth $8,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in BeiGene by 11.5% in the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in BeiGene by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after purchasing an additional 117,905 shares in the last quarter. Capital International Inc. CA raised its holdings in BeiGene by 6.0% in the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after purchasing an additional 48,615 shares in the last quarter. Point72 Asset Management L.P. bought a new position in BeiGene in the 2nd quarter worth $54,412,000. Finally, Capital Group Private Client Services Inc. raised its holdings in BeiGene by 5.9% in the 1st quarter. Capital Group Private Client Services Inc. now owns 208,800 shares of the company’s stock worth $32,654,000 after purchasing an additional 11,579 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BeiGene

In other BeiGene news, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction that occurred 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. In the last ninety days, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on BGNE. Citigroup upped their price objective on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. JMP Securities initiated coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.21.

BeiGene Stock Down 2.5 %

NASDAQ:BGNE opened at $202.73 on Thursday. BeiGene, Ltd. has a 1-year low of $126.97 and a 1-year high of $248.16. The firm’s 50-day moving average price is $211.97 and its 200-day moving average price is $179.69. The company has a market capitalization of $19.73 billion, a PE ratio of -39.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. The business had revenue of $929.20 million during the quarter, compared to analyst estimates of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. BeiGene’s revenue was up 56.1% compared to the same quarter last year. During the same period last year, the business earned ($3.64) EPS. On average, equities analysts predict that BeiGene, Ltd. will post -5 EPS for the current fiscal year.

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.