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

BeiGene, Ltd. (NASDAQ:BGNE) saw a large increase in short interest during the month of 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 volume of 367,900 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, 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 stock was 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 owns 791,493 shares of the company’s stock, valued at $148,222,894.11. This trade represents a 56.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Xiaodong Wang sold 41,760 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $186.90, for a total value of $7,804,944.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,136,622 shares of company stock valued at $213,521,417. 7.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BGNE. Baillie Gifford & Co. grew its stake in BeiGene by 0.6% in the 3rd quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company’s stock valued at $831,979,000 after purchasing an additional 23,807 shares during the period. FMR LLC grew its position in BeiGene by 0.8% during the third quarter. FMR LLC now owns 1,660,011 shares of the company’s stock valued at $372,689,000 after buying an additional 12,855 shares during the period. Point72 Asset Management L.P. increased its holdings in BeiGene by 74.9% during the third quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company’s stock worth $149,785,000 after buying an additional 285,784 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in BeiGene by 160.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,854 shares of the company’s stock worth $50,706,000 after acquiring an additional 138,978 shares during the period. Finally, TD Asset Management Inc boosted its stake in BeiGene by 1.4% in the second quarter. TD Asset Management Inc now owns 114,378 shares of the company’s stock valued at $16,318,000 after acquiring an additional 1,599 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

BeiGene Stock Down 0.5 %

Shares of BGNE stock traded down $0.92 during trading hours on Friday, reaching $179.35. The company had a trading volume of 368,615 shares, compared to its average volume of 281,770. The company has a market cap of $17.47 billion, a price-to-earnings ratio of -21.77 and a beta of 0.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.93 and a quick ratio of 1.72. BeiGene has a 12 month low of $126.97 and a 12 month high of $248.16. The business has a fifty day simple moving average of $207.23 and a 200-day simple moving average of $186.89.

BeiGene (NASDAQ:BGNE) last issued 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 for the quarter, compared to the consensus estimate of $983.26 million. During the same quarter last year, the business posted $2.01 earnings per share. BeiGene’s revenue was up 28.2% on a year-over-year basis. On average, research analysts expect that BeiGene will post -5.64 earnings per share for the current fiscal 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.