BeiGene, Ltd. (NASDAQ:BGNE) Short Interest Update

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 999,400 shares, a drop of 8.3% from the October 31st total of 1,090,000 shares. Based on an average daily volume of 314,100 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BGNE shares. JPMorgan Chase & Co. increased their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $300.00 price target on shares of BeiGene in a research report on Tuesday. StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. JMP Securities started coverage on shares of BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price target for the company. Finally, TD Cowen increased their price target on BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BeiGene has a consensus rating of “Moderate Buy” and an average target price of $253.69.

BeiGene Price Performance

Shares of BGNE traded down $3.46 during midday trading on Wednesday, hitting $202.55. The company’s stock had a trading volume of 74,205 shares, compared to its average volume of 273,607. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. BeiGene has a one year low of $126.97 and a one year high of $248.16. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of -25.00 and a beta of 0.57. The company’s fifty day simple moving average is $212.45 and its two-hundred day simple moving average is $185.24.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same period in the previous year, the firm posted $2.01 EPS. The firm’s revenue was up 28.2% compared to the same quarter last year. As a group, equities analysts expect that BeiGene will post -5.49 earnings per share for the current fiscal year.

Insider Activity at BeiGene

In related news, COO Xiaobin Wu sold 500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $200.00, for a total value of $100,000.00. Following the transaction, the chief operating officer now owns 4,500 shares in the company, valued at approximately $900,000. This represents a 10.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lai Wang sold 5,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $220.35, for a total transaction of $1,101,750.00. Following the completion of the transaction, the insider now directly owns 920,920 shares in the company, valued at approximately $202,924,722. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,845 shares of company stock worth $11,514,300. Insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in shares of BeiGene during the 1st quarter valued at $2,596,000. Raymond James & Associates grew its holdings in shares of BeiGene by 0.4% during the second quarter. Raymond James & Associates now owns 21,275 shares of the company’s stock worth $3,035,000 after purchasing an additional 76 shares during the last quarter. EFG Asset Management North America Corp. increased its stake in shares of BeiGene by 21.7% in the second quarter. EFG Asset Management North America Corp. now owns 17,780 shares of the company’s stock valued at $2,540,000 after buying an additional 3,170 shares during the period. Van ECK Associates Corp raised its holdings in BeiGene by 8.9% in the 2nd quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock valued at $13,636,000 after buying an additional 7,816 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in BeiGene by 45.9% during the 2nd quarter. Fiera Capital Corp now owns 3,736 shares of the company’s stock worth $533,000 after buying an additional 1,176 shares during the period. Institutional investors own 48.55% of the company’s stock.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.