MetLife Investment Advisors LLC Increases Stock Position in Beigene Ltd (NASDAQ:BGNE)

MetLife Investment Advisors LLC boosted its position in Beigene Ltd (NASDAQ:BGNE) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the company’s stock after purchasing an additional 500 shares during the period. MetLife Investment Advisors LLC’s holdings in Beigene were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Hillhouse Capital Advisors Ltd. bought a new position in Beigene in the fourth quarter worth approximately $622,467,000. BlackRock Inc. grew its holdings in Beigene by 294.9% in the fourth quarter. BlackRock Inc. now owns 1,877,110 shares of the company’s stock worth $263,281,000 after purchasing an additional 1,401,773 shares during the last quarter. Northern Trust Corp grew its holdings in Beigene by 22,043.2% in the fourth quarter. Northern Trust Corp now owns 566,423 shares of the company’s stock worth $79,446,000 after purchasing an additional 563,865 shares during the last quarter. Norges Bank purchased a new position in Beigene in the fourth quarter worth $47,799,000. Finally, Fiera Capital Corp grew its holdings in Beigene by 3,554.4% in the fourth quarter. Fiera Capital Corp now owns 215,464 shares of the company’s stock worth $30,221,000 after purchasing an additional 209,568 shares during the last quarter.

BGNE has been the topic of several analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Beigene in a report on Thursday, June 20th. Cowen reissued a “buy” rating on shares of Agios Pharmaceuticals in a report on Friday, May 31st. Morgan Stanley set a $70.00 price target on shares of Edison International and gave the company a “hold” rating in a report on Monday. Macquarie started coverage on shares of Baozun in a report on Friday, July 5th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Beigene currently has a consensus rating of “Buy” and an average target price of $181.88.

Shares of BGNE traded up $3.21 during mid-day trading on Thursday, hitting $124.40. 256,781 shares of the company were exchanged, compared to its average volume of 320,167. Beigene Ltd has a 1-year low of $105.19 and a 1-year high of $194.56. The stock has a market cap of $5.54 billion, a PE ratio of -10.24 and a beta of 1.03. The company has a current ratio of 7.52, a quick ratio of 7.47 and a debt-to-equity ratio of 0.14. The firm’s 50 day simple moving average is $122.78.

Beigene (NASDAQ:BGNE) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($2.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.15) by $0.34. The company had revenue of $77.83 million during the quarter, compared to analysts’ expectations of $55.79 million. Beigene had a negative net margin of 302.58% and a negative return on equity of 44.75%. Beigene’s revenue was up 139.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.03) EPS. On average, equities research analysts expect that Beigene Ltd will post -12.95 EPS for the current year.

In other news, insider Xiaobin Wu sold 5,955 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $124.52, for a total value of $741,516.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Liang sold 23,200 shares of Beigene stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $130.21, for a total transaction of $3,020,872.00. Following the sale, the chief financial officer now owns 52,338 shares in the company, valued at $6,814,930.98. The disclosure for this sale can be found here. Insiders have sold a total of 63,365 shares of company stock valued at $7,385,178 in the last ninety days. 13.30% of the stock is currently owned by corporate insiders.

Beigene Company Profile

BeiGene, Ltd., a commercial-stage biotechnology company, develops and commercializes molecularly-targeted and immuno-oncology drugs for the treatment of cancer in the People's Republic of China, the United States, and internationally. Its commercial products include ABRAXANE, a chemotherapy product for the treatment of breast, non-small cell lung, pancreatic, and gastric cancers; 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 myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia with 20% to 30% blasts and multi-lineage dysplasia.

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Institutional Ownership by Quarter for Beigene (NASDAQ:BGNE)

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