Van ECK Associates Corp Has $14.92 Million Stake in BeiGene, Ltd. (NASDAQ:BGNE)

Van ECK Associates Corp cut its position in BeiGene, Ltd. (NASDAQ:BGNE) by 15.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,696 shares of the company’s stock after selling 15,454 shares during the quarter. Van ECK Associates Corp owned 0.09% of BeiGene worth $14,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in BeiGene by 17.9% in the third quarter. Baillie Gifford & Co. now owns 3,871,598 shares of the company’s stock valued at $696,384,000 after acquiring an additional 588,294 shares during the last quarter. FMR LLC increased its stake in shares of BeiGene by 3.0% in the 3rd quarter. FMR LLC now owns 2,352,730 shares of the company’s stock valued at $423,186,000 after purchasing an additional 69,297 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of BeiGene by 91.9% during the 3rd quarter. TD Asset Management Inc now owns 100,256 shares of the company’s stock worth $18,033,000 after buying an additional 48,018 shares in the last quarter. UBS Group AG lifted its position in shares of BeiGene by 869.8% during the 3rd quarter. UBS Group AG now owns 27,297 shares of the company’s stock worth $4,910,000 after buying an additional 30,843 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in BeiGene by 56.9% in the third quarter. Hsbc Holdings PLC now owns 65,463 shares of the company’s stock valued at $11,812,000 after buying an additional 23,744 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on BGNE shares. Bank of America lowered their target price on BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research note on Monday, April 8th. Guggenheim lowered their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Sanford C. Bernstein cut their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. TD Cowen upped their price target on shares of BeiGene from $235.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.13.

Insider Activity at BeiGene

In other news, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $167.08, for a total value of $66,330.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Julia Aijun Wang sold 397 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $167.08, for a total transaction of $66,330.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Oyler sold 37,668 shares of BeiGene stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $164.02, for a total value of $6,178,305.36. Following the completion of the sale, the chief executive officer now owns 12,332 shares of the company’s stock, valued at $2,022,694.64. The disclosure for this sale can be found here. Insiders have sold a total of 64,781 shares of company stock worth $10,222,381 over the last quarter. Company insiders own 7.40% of the company’s stock.

BeiGene Stock Performance

Shares of BGNE stock opened at $156.53 on Thursday. The stock has a market capitalization of $14.97 billion, a PE ratio of -18.42 and a beta of 0.61. The business’s 50 day simple moving average is $155.23 and its 200 day simple moving average is $166.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. BeiGene, Ltd. has a one year low of $126.97 and a one year high of $266.67.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings results on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. During the same quarter in the previous year, the company earned ($4.29) EPS. The company’s revenue for the quarter was up 66.9% on a year-over-year basis. As a group, research analysts forecast that BeiGene, Ltd. will post -8.9 earnings per share for the current year.

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.