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

BeiGene, Ltd. (NASDAQ:BGNE) saw a large decline in short interest during 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 trading volume of 319,500 shares, the short-interest ratio is currently 3.4 days.

BeiGene Stock Performance

BGNE traded down $4.06 on Friday, hitting $189.23. 230,798 shares of the company’s stock were exchanged, compared to its average volume of 264,916. BeiGene has a twelve month low of $126.97 and a twelve month high of $248.16. The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The firm has a market cap of $18.43 billion, a PE ratio of -22.96 and a beta of 0.63. The stock has a fifty day moving average of $212.95 and a two-hundred day moving average of $181.80.

BeiGene (NASDAQ:BGNE) last posted 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 firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.26 million. During the same quarter last year, the company posted $2.01 EPS. BeiGene’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, research analysts anticipate that BeiGene will post -5 earnings per share for the current fiscal year.

Insider Buying and Selling at BeiGene

In other BeiGene 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Titus B. Ball sold 137 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total transaction of $26,021.78. 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. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors grew its position in BeiGene by 11.5% in 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. grew its position in 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. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $316,862,000 after acquiring an additional 117,905 shares in the last quarter. FMR LLC boosted its holdings 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 acquiring an additional 12,855 shares in the last quarter. Finally, Capital International Inc. CA boosted its holdings in shares of BeiGene by 6.0% in the first quarter. Capital International Inc. CA now owns 858,364 shares of the company’s stock valued at $134,240,000 after acquiring an additional 48,615 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.