Massachusetts Financial Services Co. MA Makes New $2.67 Million Investment in BeiGene, Ltd. (NASDAQ:BGNE)

Massachusetts Financial Services Co. MA acquired a new stake in BeiGene, Ltd. (NASDAQ:BGNE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,874 shares of the company’s stock, valued at approximately $2,666,000.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. increased its position in shares of BeiGene by 156.3% in the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of BeiGene in the 3rd quarter valued at $36,000. SG Americas Securities LLC bought a new stake in shares of BeiGene in the 3rd quarter valued at $105,000. PFG Investments LLC bought a new stake in shares of BeiGene in the 3rd quarter valued at $210,000. Finally, Truist Financial Corp increased its position in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after buying an additional 140 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

BeiGene Trading Up 1.0 %

BeiGene stock opened at $192.11 on Wednesday. The firm has a 50-day moving average of $211.94 and a 200-day moving average of $183.56. BeiGene, Ltd. has a one year low of $126.97 and a one 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 $18.71 billion, a price-to-earnings ratio of -23.31 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the company earned $2.01 earnings per share. The company’s quarterly revenue was up 28.2% on a year-over-year basis. On average, equities analysts expect that BeiGene, Ltd. will post -5.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on BGNE shares. Citigroup upped their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. TD Cowen increased their target price on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JMP Securities started coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price for the company. JPMorgan Chase & Co. increased their target price on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, StockNews.com cut BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, BeiGene presently has an average rating of “Moderate Buy” and an average price target of $247.07.

Insider Activity at BeiGene

In related news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. 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. Insiders own 7.43% of the company’s stock.

BeiGene Company 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.