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Tower Research Capital LLC TRC increased its stake in Beigene Ltd (NASDAQ: BGNE) by 5,558.3% in the second quarter, according to its latest 13F filing with the SEC. The company held 679 shares of the company after purchasing 667 additional shares during the quarter. Tower Research Capital LLC TRC's holdings in Beigene were $ 104,000 at the end of the last quarter.
A number of other large investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its position in Beigene shares by 23,414.5% in the first quarter. Wells Fargo & Company MN now holds 43,737 shares valued at $ 7,348,000 after purchasing 43,551 additional shares during the period. Northern Trust Corp acquired a new position in Beigene shares in the first quarter valued at approximately $ 302,000. California Public Employees Retirement System increased its position in Beigene shares by 23.5% in the first quarter. California Public Employees Retirement System now holds 58,222 shares of the company, valued at $ 9,781,000, following the purchase of an additional 11,083 shares during the period. Barclays PLC increased its position in Beigene shares by 15,154.5% in the first quarter. Barclays PLC now holds 11,746 shares of the company, worth $ 1,974,000, following the purchase of 11,669 additional shares during the period. Finally, Redmile Group LLC acquired a new position in Beigene's shares in the first quarter valued at approximately $ 6,720,000. 77.95% of the capital currently belongs to institutional investors and hedge funds.
In addition, the director, Donald W. Glazer, sold 2,000 shares of the company during a transaction that took place Thursday, August 30. The shares were sold at an average price of $ 179.00, for a total transaction of $ 358,000.00. As a result of the sale, the Director now holds 14,384 shares of the Company, valued at approximately $ 2,574,736. The sale was disclosed in a document filed with the SEC, available on the SEC's website. In addition, director Xiaodong Wang sold 3,449 shares of the company during a transaction that took place on Monday, August 13th. The security was sold at an average price of $ 158.77, for a total value of $ 547,597.73. The disclosure of this sale can be found here. During the last quarter, insiders sold 14,129 shares valued at $ 2,389,512. Insiders of the company own 14.10% of the shares of the company.
A number of equity analysts have weighed on the company. The BidaskClub passed Beigene from a "sell" rating to a "hold" note in a research report on Thursday, August 30th. The Maxim Group reaffirmed the "buy" rating and set a price target of $ 225.00 for Beigene shares in a research report released Monday, July 30. ValuEngine elevated Beigene from a "buy" rating to a "buy hard" rating in a research report released on Tuesday, October 2nd. Zacks Investment Research upgraded Beigene from a "sell" note to a "held" note in a research report on Wednesday, October 10. Finally, Cowen reaffirmed the "buy" rating of Beigene's shares in a research report published on Sunday, October 14th. One equity research analyst assigned a security rating, two assigned a retention rating, nine awarded a purchase rating, and one assigned a good purchase rating to the security. The stock currently has a consensus rating of "Buy" and a consensus price target of $ 186.34.
Beigene stock shares opened at $ 113.69 on Friday. Beigene Ltd has a minimum of 12 months of $ 77.54 and a maximum of 220 months of $ 220.10. The company has a market capitalization of $ 6.31 billion, a PE ratio of -50.98 and a beta of 0.66. The company has a current ratio of 8.14, a quick ratio of 8.10 and a debt-to-equity ratio of 0.16.
Beigene (NASDAQ: BGNE) last announced its quarterly results on Thursday, August 9th. The company reported earnings per share (EPS) of ($ 2.92) for the quarter, but estimates of analyst consensus were not estimated at ($ 2.12) per ($ 0.80). Beigene had a negative return on equity of 24.14% and a negative net margin of 75.19%. The company reported revenue of $ 52.80 million for the quarter, compared to $ 22.53 million in consensus. During the same quarter last year, the company achieved EPS ($ 1.52). The company's revenue for the quarter increased 5279999900.0% year-on-year. As a group, equity analysts expect Beigene Ltd to record earnings per share of -10.86 for the current year.
Beigene's Profile
BeiGene, Ltd. develops and commercializes molecular targeting and immuno-oncology drugs for the treatment of cancer. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast cancer, non-small cell lung cancer, pancreatic cancer and stomach cancer; REVLIMID, an oral immunomodulatory drug for the treatment of multiple myeloma in combination with dexamethasone; and VIDAZA, a pyrimidine nucleoside analogue for the treatment of intermediate 2 and myelodysplastic syndromes, chronic myelomonocytic leukemia and acute myeloid leukemia with 20 to 30% blasts and multilineage dysplasia.
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