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

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a significant decrease in short interest in 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 short-interest ratio is currently 3.2 days.

BeiGene Trading Down 3.3 %

BGNE stock traded down $6.99 during midday trading on Monday, hitting $208.01. 1,952,187 shares of the company’s stock were exchanged, compared to its average volume of 273,326. BeiGene has a 1-year low of $126.97 and a 1-year high of $248.16. The business has a 50-day simple moving average of $212.42 and a two-hundred day simple moving average of $184.77. The stock has a market capitalization of $20.26 billion, a PE ratio of -26.09 and a beta of 0.63. The company has a current ratio of 1.93, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). BeiGene had a negative net margin of 25.94% and a negative return on equity of 25.12%. 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 earned $2.01 earnings per share. BeiGene’s revenue was up 28.2% on a year-over-year basis. On average, sell-side analysts predict that BeiGene will post -5.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BGNE. JPMorgan Chase & Co. lifted their price target on BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com cut BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. 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 price objective on the stock. TD Cowen boosted their target price 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. Finally, Citigroup boosted their price objective on 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $247.07.

Insider Transactions at BeiGene

In other news, insider Xiaodong Wang sold 40,468 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $190.10, for a total value of $7,692,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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. Over the last three months, insiders have sold 63,538 shares of company stock valued at $12,594,017. Corporate insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of BeiGene during the third quarter worth approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BeiGene during the 3rd quarter worth approximately $67,000. SG Americas Securities LLC purchased a new stake in shares of BeiGene during the 3rd quarter worth $105,000. Finally, PFG Investments LLC acquired a new stake in BeiGene in the third quarter valued at $210,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.