Short Interest in BeiGene, Ltd. (NASDAQ:BGNE) Drops By 27.8%

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a large decline in short interest in the month of 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 daily volume of 319,500 shares, the days-to-cover ratio is presently 3.4 days.

BeiGene Stock Up 0.9 %

BGNE opened at $195.45 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $212.91 and its 200 day simple moving average is $181.72. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The stock has a market cap of $19.04 billion, a PE ratio of -23.72 and a beta of 0.63.

BeiGene (NASDAQ:BGNE) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. During the same quarter in the prior year, the business posted $2.01 EPS. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. As a group, research analysts expect that BeiGene will post -5 earnings per share for the current year.

Analyst Ratings Changes

BGNE has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised their price target on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. StockNews.com upgraded BeiGene from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities initiated coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.07.

Insider Activity at BeiGene

In related news, CEO John Oyler sold 6,175 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total value of $1,433,958.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO John Oyler sold 6,175 shares of BeiGene stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Chan Henry Lee sold 1,202 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $237.10, for a total value of $284,994.20. The disclosure for this sale can be found here. In the last three months, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On BeiGene

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of BeiGene by 156.3% in the third quarter. Blue Trust Inc. now owns 123 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in BeiGene in the 3rd quarter valued at about $36,000. Headlands Technologies LLC acquired a new position in shares of BeiGene during the 1st quarter worth approximately $50,000. SG Americas Securities LLC bought a new position in shares of BeiGene during the third quarter worth approximately $105,000. Finally, Acadian Asset Management LLC increased its holdings in shares of BeiGene by 204.1% during the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after purchasing an additional 849 shares during the period. 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.