BeiGene, Ltd. (NASDAQ:BGNE – Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 1,510,000 shares, a drop of 24.1% from the September 30th total of 1,990,000 shares. Based on an average daily volume of 315,000 shares, the days-to-cover ratio is presently 4.8 days.
BeiGene Price Performance
BGNE stock traded down $1.34 during mid-day trading on Friday, reaching $212.81. The company’s stock had a trading volume of 245,775 shares, compared to its average volume of 260,966. 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 $248.16. The company’s 50 day moving average is $210.15 and its two-hundred day moving average is $175.76. The stock has a market cap of $20.62 billion, a PE ratio of -28.11 and a beta of 0.62.
BeiGene (NASDAQ:BGNE – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.27) by $1.12. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The business had revenue of $929.20 million for the quarter, compared to analyst estimates of $810.34 million. During the same quarter in the prior year, the company earned ($3.64) earnings per share. The company’s revenue was up 56.1% on a year-over-year basis. Equities research analysts expect that BeiGene will post -5.07 EPS for the current year.
Insider Activity at BeiGene
In other BeiGene news, insider Titus B. Ball sold 137 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. Insiders have sold a total of 23,904 shares of company stock valued at $5,034,965 over the last quarter. 7.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On BeiGene
Several large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. lifted its holdings in BeiGene by 69.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,510 shares of the company’s stock worth $1,911,000 after buying an additional 3,486 shares during the last quarter. PFG Investments LLC acquired a new position in BeiGene in the third quarter valued at approximately $210,000. Allspring Global Investments Holdings LLC acquired a new stake in BeiGene during the third quarter worth approximately $36,000. Blue Trust Inc. lifted its position in shares of BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after buying an additional 75 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of BeiGene in the 3rd quarter valued at $105,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. JMP Securities began coverage on shares of BeiGene in a report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 price objective on the stock. Citigroup upped their price objective on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of BeiGene from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Bank of America cut their price objective on shares of BeiGene from $180.00 to $152.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, BeiGene currently has a consensus rating of “Moderate Buy” and an average price target of $246.21.
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.