Maxim Group analyst Jason McCarthy maintained a Buy rating on BeiGene Ltd (BGNE) yesterday and set a price target of $170. The company’s shares opened today at $115, close to its 52-week low of $105.19.
McCarthy commented:
“BeiGene announced (as expected) that it is has regained full global rights from Celgene (CELG – NR) for its anti-PD1, tislelizumab. Celgene has also agreed to pay $150M to BeiGene. As a reminder, two NDAs are under review in China.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -19.6% and a 22.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
BeiGene Ltd has an analyst consensus of Strong Buy, with a price target consensus of $173.33, which is a 50.7% upside from current levels. In a report issued on June 13, CLSA also reiterated a Buy rating on the stock.
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The company has a one-year high of $194.56 and a one-year low of $105.19. Currently, BeiGene Ltd has an average volume of 297.7K.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BGNE in relation to earlier this year.
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BeiGene Ltd. is a commercial-stage biopharmaceutical company, which engages in the development and commercialization of innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer. It focuses on Zanubrutinib (BGB-3111), Tislelizumab (BGB-A317), and Pamiparib (BGB-290).
