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

BeiGene, Ltd. (NASDAQ:BGNE) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,830,000 shares, a growth of 17.3% from the May 31st total of 1,560,000 shares. Based on an average trading volume of 175,500 shares, the short-interest ratio is presently 10.4 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on BGNE. Bank of America reduced their price objective on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. TD Cowen upped their price objective on shares of BeiGene from $236.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Sanford C. Bernstein reduced their price objective on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $251.93.

BeiGene Stock Performance

BGNE traded down $2.91 on Friday, hitting $142.67. The company’s stock had a trading volume of 318,147 shares, compared to its average volume of 185,800. The company’s 50 day simple moving average is $156.93 and its 200-day simple moving average is $159.73. The firm has a market cap of $13.67 billion, a P/E ratio of -18.85 and a beta of 0.60. BeiGene has a 12 month low of $126.97 and a 12 month high of $225.23. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping the consensus estimate of ($3.07) by $0.66. The company had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative net margin of 28.39% and a negative return on equity of 21.70%. BeiGene’s revenue for the quarter was up 67.9% on a year-over-year basis. During the same period last year, the firm earned ($3.34) EPS. Analysts forecast that BeiGene will post -8.2 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Oyler sold 2,789 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $159.58, for a total value of $445,068.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other BeiGene news, COO Xiaobin Wu sold 1,459 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $159.79, for a total value of $233,133.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Oyler sold 2,789 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $159.58, for a total transaction of $445,068.62. The disclosure for this sale can be found here. Insiders have sold 32,927 shares of company stock worth $4,965,913 in the last quarter. Insiders own 7.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in BeiGene in the 1st quarter worth approximately $50,000. Toronto Dominion Bank lifted its stake in BeiGene by 166.4% in the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after purchasing an additional 208 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in BeiGene in the 4th quarter worth approximately $98,000. PNC Financial Services Group Inc. lifted its stake in BeiGene by 123.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after purchasing an additional 405 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in BeiGene in the 4th quarter worth approximately $183,000. 48.55% of the stock is owned by institutional investors.

BeiGene Company Profile

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.