Short Interest in BeiGene, Ltd. (NASDAQ:BGNE) Expands By 33.1%

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,330,000 shares, an increase of 33.1% from the November 15th total of 999,400 shares. Based on an average daily trading volume, of 367,900 shares, the days-to-cover ratio is currently 3.6 days.

Analysts Set New Price Targets

BGNE has been the topic of several recent analyst reports. StockNews.com downgraded BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. JMP Securities began coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price for the company. TD Cowen increased their price target on shares of BeiGene from $254.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective 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, Morgan Stanley reaffirmed an “overweight” rating and issued a $300.00 target price on shares of BeiGene in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, BeiGene presently has a consensus rating of “Moderate Buy” and an average price target of $253.69.

BeiGene Stock Down 0.5 %

BeiGene stock traded down $0.92 during midday trading on Friday, hitting $179.35. 368,615 shares of the company were exchanged, compared to its average volume of 281,770. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The company’s fifty day moving average price is $207.23 and its 200-day moving average price is $186.66. The company has a market cap of $17.47 billion, a PE ratio of -21.77 and a beta of 0.57.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $1 billion for 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 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 predict that BeiGene will post -5.64 EPS for the current fiscal year.

Insider Activity at BeiGene

In other news, insider Xiaodong Wang sold 41,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $186.90, for a total value of $7,804,944.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $187.27, for a total transaction of $194,202,173.59. Following the transaction, the director now directly owns 791,493 shares in the company, valued at $148,222,894.11. The trade was a 56.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,136,622 shares of company stock valued at $213,521,417. 7.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BGNE. Baillie Gifford & Co. raised its stake 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 valued at $831,979,000 after purchasing an additional 23,807 shares in the last quarter. FMR LLC raised its stake in BeiGene by 0.8% during the third quarter. FMR LLC now owns 1,660,011 shares of the company’s stock valued at $372,689,000 after buying an additional 12,855 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in BeiGene by 74.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after buying an additional 285,784 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of BeiGene by 160.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after acquiring an additional 138,978 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of BeiGene by 1.4% in 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 during the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.