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

BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) saw a large increase in short interest in 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 presently 3.6 days.

Insider Activity

In related news, SVP Chan Henry Lee sold 1,202 shares of BeiGene stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $237.10, for a total transaction of $284,994.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Xiaodong Wang sold 41,760 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was 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. Insiders sold a total of 1,136,622 shares of company stock worth $213,521,417 in the last quarter. 7.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On BeiGene

A number of hedge funds have recently made changes to their positions in BGNE. Baillie Gifford & Co. increased its position in shares of BeiGene by 0.6% during the third quarter. Baillie Gifford & Co. now owns 3,705,756 shares of the company's stock worth $831,979,000 after acquiring an additional 23,807 shares during the period. FMR LLC increased its position in shares of BeiGene by 0.8% during the third quarter. FMR LLC now owns 1,660,011 shares of the company's stock worth $372,689,000 after purchasing an additional 12,855 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of BeiGene by 74.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 667,166 shares of the company's stock valued at $149,785,000 after purchasing an additional 285,784 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BeiGene by 160.0% in 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. Finally, TD Asset Management Inc grew its stake in BeiGene by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 114,378 shares of the company's stock worth $16,318,000 after buying an additional 1,599 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

Wall Street Analyst Weigh In

BGNE has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target 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. TD Cowen boosted their price target on BeiGene from $254.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. JMP Securities started coverage on BeiGene in a research note on Wednesday, September 18th. They issued a "market outperform" rating and a $288.00 price objective for the company. StockNews.com cut shares of BeiGene from a "buy" rating to a "hold" rating in a research note on Thursday, November 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of BeiGene in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, BeiGene has a consensus rating of "Moderate Buy" and a consensus price target of $253.69.

BeiGene Price Performance

Shares of BeiGene stock traded down $0.92 on Friday, reaching $179.35. The company's stock had a trading volume of 368,585 shares, compared to its average volume of 281,770. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $207.23 and a 200-day moving average price of $186.66. The company has a market capitalization of $17.47 billion, a P/E ratio of -21.77 and a beta of 0.57. BeiGene has a 52-week low of $126.97 and a 52-week high of $248.16.

BeiGene (NASDAQ:BGNE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) 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 business had revenue of $1 billion for the quarter, compared to analysts' expectations of $983.26 million. During the same period in the prior year, the company posted $2.01 EPS. The firm's revenue was up 28.2% on a year-over-year basis. Analysts expect that BeiGene will post -5.64 EPS 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.

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