PRIMECAP Management Co. recently announced the acquisition of new stake in BeiGene Ltd. (NASDAQ:BGNE). The institutional investor has increased its shareholding in the Healthcare company by 17.45% to 4.73 million shares with purchase of 0.7 million shares. This fresh investment now brings its stake to 4.98% valued currently at $1.04 billion. In addition, Temasek Holdings Pte Ltd. raised its holdings by 0.14 million to 3.11 million shares. And Invesco Advisers, Inc. has lifted its position by 3.13% or 82046.0 shares – to 2.7 million shares.
With over 0.41 million BeiGene Ltd. (BGNE) shares trading Friday and a closing price of $270.66 on the day, the dollar volume was approximately $111.73 million. The shares have shown a positive half year performance of 52.79% and its price on 01/13/23 gained nearly 2.82%. Currently, there are 103.48M common shares owned by the public and among those 101.79M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for BGNE have a consensus price objective of $261.97. The analysts have set the share’s price value over the next 12 months at a high of $340.00 and a low of $108.14. The average price target is 3.22% above its recent price level and a downside to the estimated low will see the stock lose -150.29% over that period. But an upside of 20.39% will see the stock hit the forecast high price target while median target price for the stock is $280.51.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 17,228 shares.
The top 3 mutual fund holders in BeiGene Ltd. are American Funds New Perspective Fu, Invesco Developing Markets Fund, and Vanguard PRIMECAP Fund. American Funds New Perspective Fu owns 2.28 million shares of the company’s stock, all valued at over $500.94 million. The company sold 3556.0 shares recently to bring their total holdings to about 2.40% of the shares outstanding. Vanguard PRIMECAP Fund bought 0.67 million shares to bring its total holdings to over 2.12 million shares at a value of $467.11 million. Vanguard PRIMECAP Fund now owns shares totaling to 2.24% of the shares outstanding.
Shares of BeiGene Ltd. (NASDAQ: BGNE) opened at $269.00, up $5.77 from a prior closing price of $263.23. However, the script later moved the day high at 278.84, up 2.82%. The company’s stock has a 5-day price change of 10.37% and 78.19% over the past three months. BGNE shares are trading 23.06% year to date (YTD), with the 12-month market performance up to 8.40% higher. It has a 12-month low price of $118.18 and touched a high of $263.97 over the same period. BGNE has an average intraday trading volume of 269.99K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.66%, 31.38%, and 55.54% respectively.
Institutional ownership of BeiGene Ltd. (NASDAQ: BGNE) shares accounts for 57.40% of the company’s 103.48M shares outstanding. Mutual fund holders own 19.71%, while other institutional holders and individual stakeholders account for 36.48% and 18.04% respectively.
It has a market capitalization of $27.08B and a beta (3y monthly) value of 0.69. The earnings-per-share (ttm) stands at -$21.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.51% over the week and 4.22% over the month.
Analysts forecast that BeiGene Ltd. (BGNE) will achieve an EPS of -$4.01 for the current quarter, -$3.99 for the next quarter and -$11.27 for 2023. The lowest estimate earnings-per-share for the quarter is -$4.65 while analysts give the company a high EPS estimate of -$3.45. Comparatively, EPS for the current quarter was -$4.46 a year ago. Earnings per share for the fiscal year are expected to increase by 20.60%, and 26.30% over the next financial year. EPS should grow at an annualized rate of 37.00% over the next five years, compared to -31.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate BeiGene Ltd. (BGNE) as a “Strong Buy” at a consensus score of 1.80. Specifically, 23 Wall Street analysts polled rate the stock as a buy, while 0 of the 28 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BGNE, a number of firms have released research notes about the stock. Daiwa Securities stated their Buy rating for the stock in a research note on January 12, 2023, with the firm’s price target at $308. SVB Leerink coverage for the BeiGene Ltd. (BGNE) stock in a research note released on October 13, 2022 offered a Outperform rating with a price target of $200. Guggenheim was of a view on October 13, 2022 that the stock is Buy, while JP Morgan gave the stock Overweight rating on August 09, 2022, issuing a price target of $296. SVB Leerink on their part issued Mkt Perform rating on March 17, 2022.
