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

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

Analyst Ratings Changes

A number of brokerages recently weighed in on BGNE. Citigroup increased their price target on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. JMP Securities began coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. TD Cowen raised their price target on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of BeiGene from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.69.

Insiders Place Their Bets

In other BeiGene news, SVP Chan Henry Lee sold 1,202 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Oyler sold 6,175 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $232.22, for a total transaction of $1,433,958.50. The disclosure for this sale can be found here. Insiders have sold a total of 57,845 shares of company stock worth $11,514,300 in the last quarter. 7.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeiGene

A number of hedge funds have recently bought and sold shares of BGNE. Baillie Gifford & Co. lifted its holdings in shares of BeiGene by 0.6% in 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. FMR LLC increased its stake in shares of BeiGene by 0.8% in the third quarter. FMR LLC now owns 1,660,011 shares of the company’s stock valued at $372,689,000 after purchasing an additional 12,855 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of BeiGene by 74.9% during the third quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock valued at $149,785,000 after buying an additional 285,784 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BeiGene by 160.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after buying an additional 138,978 shares during the period. Finally, TD Asset Management Inc raised its stake in BeiGene by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock valued at $16,318,000 after acquiring an additional 1,599 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Trading Up 0.2 %

Shares of BGNE stock traded up $0.39 during mid-day trading on Tuesday, reaching $206.14. The company’s stock had a trading volume of 84,637 shares, compared to its average volume of 273,089. The firm has a market capitalization of $20.08 billion, a PE ratio of -24.97 and a beta of 0.57. The company’s 50 day simple moving average is $212.51 and its 200-day simple moving average is $185.01. BeiGene has a 12-month low of $126.97 and a 12-month high of $248.16. 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 (NASDAQ:BGNE) last released its quarterly 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). The business had revenue of $1 billion during the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 EPS. On average, research analysts predict that BeiGene will post -5.38 EPS for the current fiscal year.

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.