BeiGene (BGNE) Shares Sold by The Manufacturers Life Insurance Company

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The Manufacturers Life Insurance Company decreased its position in BeiGene (NASDAQ:BGNE) by 24.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,339 shares of the company’s stock after selling 21,094 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of BeiGene worth $10,809,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BGNE. Tower Research Capital LLC TRC purchased a new stake in shares of BeiGene during the fourth quarter valued at $182,000. Comerica Bank purchased a new stake in shares of BeiGene during the fourth quarter valued at $246,000. Mackenzie Financial Corp purchased a new stake in shares of BeiGene during the fourth quarter valued at $250,000. Jefferies Group LLC purchased a new stake in shares of BeiGene during the fourth quarter valued at $283,000. Finally, Quantbot Technologies LP purchased a new stake in shares of BeiGene during the first quarter valued at $290,000. Institutional investors and hedge funds own 67.14% of the company’s stock.

Several equities research analysts have recently commented on the company. Piper Jaffray Companies assumed coverage on BeiGene in a report on Friday, April 13th. They set an “overweight” rating and a $200.00 target price for the company. Zacks Investment Research raised BeiGene from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. BidaskClub downgraded BeiGene from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Maxim Group set a $200.00 target price on BeiGene and gave the company a “buy” rating in a report on Thursday, May 10th. Finally, Cowen reaffirmed a “buy” rating on shares of BeiGene in a report on Friday, June 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $173.00.

BeiGene opened at $152.50 on Thursday, MarketBeat Ratings reports. BeiGene has a 1-year low of $44.45 and a 1-year high of $220.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.12 and a current ratio of 11.18.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Wednesday, May 9th. The company reported ($2.03) earnings per share for the quarter, missing the consensus estimate of ($1.62) by ($0.41). The company had revenue of $32.54 million during the quarter, compared to analysts’ expectations of $16.88 million. During the same quarter last year, the firm earned ($1.27) earnings per share. sell-side analysts expect that BeiGene will post -8.71 earnings per share for the current fiscal year.

BeiGene Profile

BeiGene, Ltd., a clinical-stage biopharmaceutical company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a solvent-free chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analog for the treatment of intermediate-2 and high-risk myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

Institutional Ownership by Quarter for BeiGene (NASDAQ:BGNE)

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