LMR Partners LLP Takes Position in BeiGene, Ltd. (NASDAQ:BGNE)

LMR Partners LLP bought a new stake in BeiGene, Ltd. (NASDAQ:BGNE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,838 shares of the company’s stock, valued at approximately $1,535,000.

A number of other institutional investors also recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in BeiGene during the 2nd quarter worth $1,168,000. Swedbank AB acquired a new position in BeiGene during the 1st quarter worth $2,596,000. The Manufacturers Life Insurance Company lifted its holdings in BeiGene by 8.4% during the 2nd 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. Van ECK Associates Corp lifted its holdings in BeiGene by 8.9% during the 2nd quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock worth $13,636,000 after buying an additional 7,816 shares in the last quarter. Finally, Barings LLC lifted its holdings in BeiGene by 66.4% during the 2nd quarter. Barings LLC now owns 51,763 shares of the company’s stock worth $7,385,000 after buying an additional 20,663 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Chan Henry Lee sold 1,202 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction dated 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 90 days, insiders sold 23,070 shares of company stock worth $4,901,050. Corporate insiders own 7.43% of the company’s stock.

BeiGene Price Performance

BGNE stock opened at $187.69 on Tuesday. The stock has a 50-day moving average price of $212.91 and a two-hundred day moving average price of $182.40. The stock has a market cap of $18.28 billion, a PE ratio of -22.96 and a beta of 0.63. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. BeiGene, Ltd. has a 1 year low of $126.97 and a 1 year high of $248.16.

BeiGene (NASDAQ:BGNE) last released its 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 firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. BeiGene’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. Equities analysts forecast that BeiGene, Ltd. will post -5.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com raised BeiGene from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Citigroup increased their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price target on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, JMP Securities initiated coverage on BeiGene in a research note on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $247.07.

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.