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

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a significant 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

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded BeiGene from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. JMP Securities assumed coverage on BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective for the company. TD Cowen raised their price objective on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $300.00 target price on shares of BeiGene in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.69.

BeiGene Trading Down 0.5 %

Shares of NASDAQ BGNE traded down $0.92 during midday trading on Friday, reaching $179.35. The company had a trading volume of 368,615 shares, compared to its average volume of 281,770. The stock has a market cap of $17.47 billion, a PE ratio of -21.77 and a beta of 0.57. BeiGene has a one year low of $126.97 and a one year high of $248.16. The firm’s fifty day moving average price is $207.23 and its 200-day moving average price is $186.89. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05.

BeiGene (NASDAQ:BGNE) last announced its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $983.26 million. During the same quarter in the previous year, the firm posted $2.01 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities research analysts anticipate that BeiGene will post -5.64 earnings per share for the current year.

Insider Transactions at BeiGene

In other news, insider Xiaodong Wang sold 40,468 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $190.10, for a total transaction of $7,692,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker sold 1,037,017 shares of the firm’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 completion of the sale, the director now directly owns 791,493 shares in the company, valued at $148,222,894.11. This represents a 56.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,136,622 shares of company stock valued at $213,521,417. 7.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BeiGene

Several institutional investors have recently added to or reduced their stakes in BGNE. Driehaus Capital Management LLC bought a new stake in shares of BeiGene in the 2nd quarter worth approximately $1,168,000. The Manufacturers Life Insurance Company boosted its holdings in BeiGene by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company’s stock valued at $7,171,000 after acquiring an additional 3,915 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in BeiGene by 160.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock valued at $50,706,000 after purchasing an additional 138,978 shares during the period. Van ECK Associates Corp increased its position in BeiGene by 8.9% during the 2nd quarter. Van ECK Associates Corp now owns 95,577 shares of the company’s stock valued at $13,636,000 after purchasing an additional 7,816 shares during the period. Finally, Barings LLC raised its holdings in BeiGene by 66.4% in the 2nd quarter. Barings LLC now owns 51,763 shares of the company’s stock worth $7,385,000 after purchasing an additional 20,663 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.