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

BeiGene, Ltd. (NASDAQ:BGNE) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,250,000 shares, an increase of 11.9% from the August 15th total of 2,010,000 shares. Based on an average trading volume of 271,300 shares, the days-to-cover ratio is currently 8.3 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BGNE shares. Bank of America reduced their price target on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Citigroup raised their target price on shares of BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, BeiGene currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.42.

Insider Activity

In other news, CFO Julia Aijun Wang sold 899 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $155.66, for a total value of $139,938.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Julia Aijun Wang sold 899 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $155.66, for a total value of $139,938.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xiaobin Wu sold 1,459 shares of the company’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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,210 shares of company stock valued at $2,269,721. 7.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BGNE. Capital International Investors boosted its stake in shares of BeiGene by 11.5% in the 1st quarter. Capital International Investors now owns 7,064,428 shares of the company’s stock valued at $1,104,806,000 after purchasing an additional 727,556 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in BeiGene during the 2nd quarter worth about $54,412,000. First Trust Advisors LP bought a new position in shares of BeiGene in the 4th quarter worth about $39,632,000. M&G Plc acquired a new position in shares of BeiGene in the 1st quarter valued at about $29,649,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of BeiGene by 175.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,339 shares of the company’s stock valued at $38,658,000 after purchasing an additional 136,458 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

BeiGene Trading Up 1.5 %

NASDAQ:BGNE traded up $2.89 during mid-day trading on Tuesday, hitting $199.34. 12,612 shares of the company’s stock were exchanged, compared to its average volume of 247,954. The company has a current ratio of 1.98, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $215.00. The company has a 50 day simple moving average of $178.20 and a 200-day simple moving average of $163.51. The firm has a market capitalization of $19.32 billion, a P/E ratio of -26.40 and a beta of 0.61.

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

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.