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

BeiGene, Ltd. (NASDAQ:BGNE) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 2,000,000 shares, a decline of 11.1% from the August 31st total of 2,250,000 shares. Based on an average daily trading volume, of 279,800 shares, the days-to-cover ratio is currently 7.1 days.

BeiGene Stock Up 2.0 %

NASDAQ:BGNE traded up $4.34 on Monday, hitting $222.76. 273,500 shares of the company’s stock traded hands, compared to its average volume of 249,248. The company has a market cap of $21.59 billion, a PE ratio of -29.38 and a beta of 0.61. BeiGene has a 1 year low of $126.97 and a 1 year high of $237.10. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $187.99 and a 200-day moving average price of $166.08.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. The firm had revenue of $929.20 million for the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative net margin of 16.91% and a negative return on equity of 14.93%. The firm’s revenue was up 56.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($3.64) earnings per share. Equities analysts anticipate that BeiGene will post -5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Xiaobin Wu sold 5,556 shares of the firm’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 document filed with the SEC, which is available at this link. In other news, COO Xiaobin Wu sold 5,556 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Titus B. Ball sold 137 shares of BeiGene stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,527 shares of company stock worth $2,214,263. 7.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BeiGene

A number of hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in BeiGene in the first quarter valued at about $50,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of BeiGene by 51.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock valued at $128,000 after buying an additional 279 shares in the last quarter. Acadian Asset Management LLC increased its holdings in BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after buying an additional 849 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in BeiGene in the first quarter worth approximately $209,000. Finally, Truist Financial Corp raised its position in BeiGene by 10.1% during the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock valued at $217,000 after acquiring an additional 140 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BGNE has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Bank of America cut their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JMP Securities assumed coverage on shares of BeiGene in a research note on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective for the company. Finally, Citigroup raised their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $241.21.

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.