BeiGene, Ltd. (NASDAQ:BGNE) Short Interest Down 24.1% in October

BeiGene, Ltd. (NASDAQ:BGNE - Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,510,000 shares, a decrease of 24.1% from the September 30th total of 1,990,000 shares. Based on an average trading volume of 315,000 shares, the short-interest ratio is presently 4.8 days.

Insider Activity at BeiGene

In other BeiGene news, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total transaction of $1,053,695.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Xiaobin Wu sold 5,556 shares of BeiGene stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Chan Henry Lee sold 834 shares of BeiGene stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $160.57, for a total value of $133,915.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,904 shares of company stock valued at $5,034,965. Corporate insiders own 7.43% of the company's stock.

Hedge Funds Weigh In On BeiGene

Several institutional investors and hedge funds have recently modified their holdings of BGNE. Capital International Investors raised its stake in BeiGene by 11.5% in the first quarter. Capital International Investors now owns 7,064,428 shares of the company's stock valued at $1,104,806,000 after buying an additional 727,556 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of BeiGene in the second quarter valued at about $54,412,000. M&G Plc bought a new stake in BeiGene in the 1st quarter valued at about $29,649,000. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $316,862,000 after buying an additional 117,905 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new stake in BeiGene during the first quarter worth approximately $12,846,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

BeiGene Trading Down 0.6 %

Shares of NASDAQ BGNE traded down $1.34 during midday trading on Friday, hitting $212.81. The stock had a trading volume of 245,775 shares, compared to its average volume of 260,966. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.75. BeiGene has a fifty-two week low of $126.97 and a fifty-two week high of $248.16. The firm has a market cap of $20.62 billion, a P/E ratio of -28.11 and a beta of 0.62. The company's 50-day simple moving average is $210.15 and its 200 day simple moving average is $175.76.

BeiGene (NASDAQ:BGNE - Get Free Report) last posted its quarterly earnings results 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 net margin of 16.91% and a negative return on equity of 14.93%. The business had revenue of $929.20 million during the quarter, compared to the consensus estimate of $810.34 million. During the same period in the previous year, the firm posted ($3.64) earnings per share. BeiGene's revenue for the quarter was up 56.1% compared to the same quarter last year. Research analysts anticipate that BeiGene will post -5.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BGNE. JMP Securities initiated coverage on BeiGene in a research report on Wednesday, September 18th. They set a "market outperform" rating and a $288.00 price objective for the company. Citigroup boosted their target price on shares of BeiGene from $269.00 to $288.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Bank of America lowered their price target on BeiGene from $180.00 to $152.50 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on BeiGene from $200.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.