Beigene Ltd (NASDAQ:BGNE)’s share price reached a new 52-week high on Wednesday . The company traded as high as $146.44 and last traded at $135.66, with a volume of 355100 shares. The stock had previously closed at $135.66.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Beigene from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. ValuEngine upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Maxim Group set a $120.00 price objective on shares of Beigene and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Beigene from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, Cowen restated a “buy” rating on shares of Beigene in a research report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $96.67.
The company has a debt-to-equity ratio of 0.20, a quick ratio of 9.27 and a current ratio of 9.33.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Beigene in the third quarter valued at about $160,000. Tower Research Capital LLC TRC purchased a new stake in shares of Beigene in the fourth quarter valued at about $182,000. Comerica Bank purchased a new stake in shares of Beigene in the fourth quarter valued at about $246,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Beigene in the third quarter valued at about $248,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Beigene in the fourth quarter valued at about $250,000. Institutional investors and hedge funds own 49.35% of the company’s stock.
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Beigene Company Profile
BeiGene, Ltd. is a clinical-stage biopharmaceutical company. The Company is focused in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The Company had used its cancer biology platform to develop four clinical-stage drug candidates, such as BGB-3111, BGB-A317, BGB-290 and BGB-283, as of December 31, 2016.
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