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

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,860,000 shares, an increase of 14.8% from the July 15th total of 1,620,000 shares. Based on an average trading volume of 225,800 shares, the short-interest ratio is presently 8.2 days.

BeiGene Stock Up 2.0 %

BeiGene stock traded up $3.77 during midday trading on Friday, hitting $194.66. 376,468 shares of the company were exchanged, compared to its average volume of 244,709. The company’s fifty day moving average price is $160.29 and its 200-day moving average price is $157.00. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $219.64. The company has a market cap of $18.86 billion, a PE ratio of -25.71 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 1.84.

BeiGene (NASDAQ:BGNE) last announced its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. 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 company posted ($3.64) EPS. BeiGene’s quarterly revenue was up 56.1% on a year-over-year basis. On average, research analysts predict that BeiGene will post -7.76 EPS for the current fiscal year.

Insider Transactions at BeiGene

In other news, CFO Julia Aijun Wang sold 472 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $143.90, for a total transaction of $67,920.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BeiGene news, COO Xiaobin Wu sold 1,459 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $159.79, for a total value of $233,133.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Julia Aijun Wang sold 472 shares of BeiGene stock in a transaction on Monday, July 1st. The stock was sold at an average price of $143.90, for a total value of $67,920.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,517 shares of company stock worth $1,190,004. Insiders own 7.43% of the company’s stock.

Institutional Investors Weigh In On BeiGene

A number of institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in BeiGene during the 1st quarter worth $50,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of BeiGene in the fourth quarter worth $98,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of BeiGene in the fourth quarter worth $183,000. Acadian Asset Management LLC lifted its holdings in shares of BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock valued at $197,000 after buying an additional 849 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of BeiGene in the first quarter valued at $209,000. 48.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America dropped their price objective on BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, TD Cowen lifted their price target on BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.05.

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.