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

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 1,510,000 shares, a decline of 24.1% from the September 30th total of 1,990,000 shares. Based on an average trading volume of 315,000 shares, the short-interest ratio is presently 4.8 days.

Analyst Ratings Changes

Several research firms have commented on BGNE. JPMorgan Chase & Co. increased their target price on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. JMP Securities assumed 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. Bank of America decreased their price target on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Citigroup boosted their price objective 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.21.

Insider Buying and Selling at BeiGene

In other BeiGene news, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. In related news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 6,175 shares of the firm’s stock in a transaction that occurred 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 sold 23,070 shares of company stock valued at $4,901,050 in the last three months. Corporate insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

Several hedge funds and other institutional investors have recently made changes to their positions in BGNE. Capital International Investors lifted its stake in BeiGene by 11.5% during the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after acquiring an additional 727,556 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of BeiGene during the second quarter valued at approximately $54,412,000. M&G Plc bought a new stake in BeiGene during the first quarter worth $29,649,000. Price T Rowe Associates Inc. MD boosted its position in BeiGene by 6.2% in the first 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. Finally, Affinity Asset Advisors LLC bought a new position in BeiGene in the 1st quarter valued at $12,846,000. 48.55% of the stock is owned by institutional investors.

BeiGene Stock Down 0.5 %

BGNE stock traded down $1.16 during trading on Tuesday, reaching $216.06. 133,370 shares of the stock were exchanged, compared to its average volume of 259,744. The firm’s 50 day moving average is $210.64 and its 200 day moving average is $176.45. The firm has a market cap of $20.94 billion, a P/E ratio of -28.69 and a beta of 0.62. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16.

BeiGene (NASDAQ:BGNE) last issued its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The company had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same period in the prior year, the firm earned ($3.64) earnings per share. BeiGene’s revenue for the quarter was up 56.1% on a year-over-year basis. As a group, research analysts forecast that BeiGene will post -5.07 EPS for the current year.

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.