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BeiGene, Ltd. (NASDAQ:BGNE) Short Interest Update

BeiGene logo with Medical background

BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,090,000 shares, a decrease of 27.8% from the October 15th total of 1,510,000 shares. Based on an average daily trading volume, of 319,500 shares, the short-interest ratio is presently 3.4 days.

Analyst Ratings Changes

BGNE has been the subject of several analyst reports. StockNews.com upgraded BeiGene from a "hold" rating to a "buy" rating in a research note on Wednesday. Citigroup boosted their price objective on shares of BeiGene from $269.00 to $288.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. JMP Securities initiated coverage on shares of BeiGene in a report on Wednesday, September 18th. They set a "market outperform" rating and a $288.00 target price on the stock. TD Cowen raised their price target on shares of BeiGene from $254.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of BeiGene from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $247.07.

Read Our Latest Report on BGNE

BeiGene Price Performance

Shares of NASDAQ BGNE traded down $2.16 during mid-day trading on Thursday, reaching $193.29. 213,475 shares of the company were exchanged, compared to its average volume of 264,875. BeiGene has a 52 week low of $126.97 and a 52 week high of $248.16. The company's 50 day moving average price is $212.91 and its 200 day moving average price is $181.72. The stock has a market capitalization of $18.83 billion, a PE ratio of -23.68 and a beta of 0.63. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.26 million. BeiGene had a negative return on equity of 25.15% and a negative net margin of 25.94%. The company's revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the firm earned $2.01 EPS. Sell-side analysts forecast that BeiGene will post -5 earnings per share for the current fiscal year.

Insider Transactions at BeiGene

In other BeiGene news, insider Titus B. Ball sold 137 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total transaction of $26,021.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Oyler sold 6,175 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $232.22, for a total value of $1,433,958.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,070 shares of company stock worth $4,901,050. 7.43% of the stock is owned by company insiders.

Institutional Trading of BeiGene

Several hedge funds and other institutional investors have recently bought and sold shares of BGNE. Driehaus Capital Management LLC purchased a new stake in shares of BeiGene in the 2nd quarter valued at $1,168,000. Swedbank AB purchased a new stake in BeiGene during the first quarter valued at about $2,596,000. M&G Plc purchased a new stake in BeiGene during the first quarter valued at about $29,649,000. The Manufacturers Life Insurance Company grew its stake in shares of BeiGene by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 50,262 shares of the company's stock valued at $7,171,000 after buying an additional 3,915 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of BeiGene by 8.9% in the second quarter. Van ECK Associates Corp now owns 95,577 shares of the company's stock worth $13,636,000 after buying an additional 7,816 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

About BeiGene

(Get Free Report)

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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