Maxim Group Believes BeiGene Ltd (NASDAQ: BGNE) Still Has Room to Grow

By Austin Angelo

Maxim Group analyst Gabrielle Zhou reiterated a Buy rating on BeiGene Ltd (NASDAQ: BGNE) today and set a price target of $52. The company’s shares opened today at $45.51, close to its 52-week high of $46.

Zhou observed:

“BeiGene announced the presentation of preliminary data from the Phase I study of BGB-A317, an anti-PD1 monoclonal antibody, as monotherapy in patients with advanced hepatocellular carcinoma (HCC) at the ESMO 19th World Congress on Gastrointestinal Cancer (WCGI 2017) in Barcelona, Spain.”

According to TipRanks.com, Zhou is ranked 0 out of 5 stars with an average return of -9.3% and a 41.1% success rate. Zhou covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, ContraVir Pharmaceuticals Inc, and Cellular Biomedicine Group.

Currently, the analyst consensus on BeiGene Ltd is Moderate Buy and the average price target is $52, representing a 14.3% upside.

In a report issued on June 16, Cowen & Co. also reiterated a Buy rating on the stock.

The company has a one year high of $46 and a one year low of $24.53. Currently, BeiGene Ltd has an average volume of 89.71K.

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BeiGene Ltd. operates as a holding company, which engages in the research and development of biopharmaceutical products. It develops immuno-oncology drugs for cancer treatment. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Beijing, China.