BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 2,000,000 shares, a drop of 11.1% from the August 31st total of 2,250,000 shares. Based on an average daily volume of 279,800 shares, the days-to-cover ratio is presently 7.1 days.
Insider Activity at BeiGene
In other BeiGene news, COO Xiaobin Wu sold 4,500 shares of BeiGene stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $200.14, for a total transaction of $900,630.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other BeiGene news, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Xiaobin Wu sold 4,500 shares of BeiGene stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $200.14, for a total transaction of $900,630.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,999 shares of company stock valued at $2,282,183. 7.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On BeiGene
A number of large investors have recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in BeiGene by 11.5% in the first quarter. Capital International Investors now owns 7,064,428 shares of the company's stock worth $1,104,806,000 after purchasing an additional 727,556 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in BeiGene by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,026,094 shares of the company's stock worth $316,862,000 after purchasing an additional 117,905 shares in the last quarter. Capital International Inc. CA raised its holdings in BeiGene by 6.0% in the first quarter. Capital International Inc. CA now owns 858,364 shares of the company's stock worth $134,240,000 after purchasing an additional 48,615 shares in the last quarter. Point72 Asset Management L.P. bought a new position in BeiGene in the second quarter worth about $54,412,000. Finally, First Trust Advisors LP bought a new position in BeiGene in the fourth quarter worth about $39,632,000. 48.55% of the stock is currently owned by institutional investors.
BeiGene Stock Up 2.8 %
Shares of BGNE stock traded up $5.89 on Friday, hitting $218.42. The stock had a trading volume of 394,253 shares, compared to its average volume of 249,109. The company has a quick ratio of 1.75, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $187.99 and a 200 day moving average price of $166.14. The company has a market cap of $21.17 billion, a PE ratio of -28.85 and a beta of 0.61. BeiGene has a one year low of $126.97 and a one year high of $223.96.
BeiGene (NASDAQ:BGNE - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($2.27) by $1.12. The firm had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. BeiGene had a negative return on equity of 14.93% and a negative net margin of 16.91%. The firm's quarterly revenue was up 56.1% on a year-over-year basis. During the same period in the previous year, the company posted ($3.64) earnings per share. Research analysts anticipate that BeiGene will post -5.13 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on BeiGene from $194.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Bank of America decreased their target price on BeiGene from $180.00 to $152.50 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. JMP Securities assumed coverage on BeiGene in a research report on Wednesday, September 18th. They set a "market outperform" rating and a $288.00 target price for the company. Finally, Citigroup lifted their target price on BeiGene from $269.00 to $288.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.21.
Read Our Latest Report on BGNE
BeiGene Company Profile
(
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.
Further Reading
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