Public Employees Retirement System of Ohio Decreases Stake in BeiGene, Ltd. (NASDAQ:BGNE)

Public Employees Retirement System of Ohio lessened its position in shares of BeiGene, Ltd. (NASDAQ:BGNE) by 73.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,917 shares of the company’s stock after selling 32,483 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in BeiGene were worth $2,675,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Raymond James & Associates lifted its position in BeiGene by 0.4% in the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after buying an additional 76 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of BeiGene by 10.1% in the 2nd quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after acquiring an additional 140 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of BeiGene during the third quarter valued at approximately $36,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in BeiGene by 0.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 97,895 shares of the company’s stock valued at $21,978,000 after acquiring an additional 266 shares during the period. Institutional investors own 48.55% of the company’s stock.

Insider Activity at BeiGene

In other news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xiaobin Wu sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $200.14, for a total transaction of $900,630.00. The disclosure for this sale can be found here. Insiders sold 1,136,122 shares of company stock valued at $213,421,417 in the last three months. 7.43% of the stock is owned by insiders.

BeiGene Stock Down 1.7 %

Shares of BeiGene stock opened at $176.33 on Tuesday. The firm’s 50 day moving average price is $207.23 and its 200-day moving average price is $187.14. The company has a market cap of $17.18 billion, a P/E ratio of -21.40 and a beta of 0.57. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. BeiGene, Ltd. has a 52-week low of $126.97 and a 52-week high of $248.16.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 earnings per share. On average, sell-side analysts predict that BeiGene, Ltd. will post -5.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BGNE shares. TD Cowen boosted their target price on shares of BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 target price on shares of BeiGene in a report on Tuesday, December 3rd. JMP Securities began coverage on BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price target on the stock. Finally, StockNews.com lowered shares of BeiGene from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, BeiGene presently has an average rating of “Moderate Buy” and an average target price of $253.69.

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.