BeiGene, Ltd. (NASDAQ:BGNE) Sees Significant Drop in Short Interest

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,090,000 shares, a decline of 27.8% from the October 15th total of 1,510,000 shares. Based on an average trading volume of 319,500 shares, the short-interest ratio is currently 3.4 days.

BeiGene Stock Down 2.1 %

BeiGene stock traded down $4.06 during midday trading on Friday, reaching $189.23. The company’s stock had a trading volume of 230,798 shares, compared to its average volume of 264,916. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The company has a quick ratio of 1.75, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The company has a market cap of $18.43 billion, a P/E ratio of -22.96 and a beta of 0.63. The business has a 50-day simple moving average of $212.95 and a 200-day simple moving average of $181.80.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 earnings per share. On average, research analysts expect that BeiGene will post -5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BGNE shares. StockNews.com raised shares of BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. TD Cowen boosted their target price on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities assumed coverage on BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Citigroup upped their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $247.07.

Insider Activity

In other BeiGene news, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,070 shares of company stock valued at $4,901,050. Corporate insiders own 7.43% of the company’s stock.

Hedge Funds Weigh In On BeiGene

Hedge funds have recently made changes to their positions in the company. Capital International Investors raised its position in shares of BeiGene by 11.5% during the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock worth $1,104,806,000 after purchasing an additional 727,556 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of BeiGene by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock worth $831,979,000 after purchasing an additional 23,807 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of BeiGene by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company’s stock worth $316,862,000 after purchasing an additional 117,905 shares during the last quarter. FMR LLC raised its position in shares of BeiGene by 0.8% during the 3rd quarter. FMR LLC now owns 1,660,011 shares of the company’s stock worth $372,689,000 after purchasing an additional 12,855 shares during the last quarter. Finally, Capital International Inc. CA raised its position in shares of BeiGene by 6.0% during the 1st quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock worth $134,240,000 after purchasing an additional 48,615 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

BeiGene Company Profile

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.