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

BeiGene, Ltd. (NASDAQ:BGNE) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,830,000 shares, a growth of 17.3% from the May 31st total of 1,560,000 shares. Based on an average daily volume of 175,500 shares, the days-to-cover ratio is presently 10.4 days.

Wall Street Analysts Forecast Growth

BGNE has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of BeiGene from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Bank of America dropped their price target on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating on the stock in a research note on Monday, April 8th. TD Cowen increased their price target on shares of BeiGene from $236.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Sanford C. Bernstein lowered their target price on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $251.93.

Insider Buying and Selling at BeiGene

In other news, insider Lai Wang sold 1,064 shares of BeiGene stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $159.80, for a total value of $170,027.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Lai Wang sold 1,064 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $159.80, for a total value of $170,027.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Oyler sold 26,716 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $148.89, for a total transaction of $3,977,745.24. Following the completion of the transaction, the chief executive officer now owns 12,084 shares of the company’s stock, valued at $1,799,186.76. The disclosure for this sale can be found here. Insiders sold 32,927 shares of company stock worth $4,965,913 over the last 90 days. 7.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Wealth LLC grew its stake in shares of BeiGene by 7.5% in the fourth quarter. NewEdge Wealth LLC now owns 1,612 shares of the company’s stock worth $291,000 after purchasing an additional 112 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of BeiGene by 9.5% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,601 shares of the company’s stock valued at $289,000 after buying an additional 139 shares during the period. Parkwood LLC lifted its holdings in shares of BeiGene by 3.0% in the fourth quarter. Parkwood LLC now owns 6,464 shares of the company’s stock valued at $1,166,000 after buying an additional 191 shares during the period. Toronto Dominion Bank lifted its holdings in shares of BeiGene by 166.4% in the third quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock valued at $60,000 after buying an additional 208 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of BeiGene by 8.1% in the first quarter. ProShare Advisors LLC now owns 2,902 shares of the company’s stock valued at $454,000 after buying an additional 217 shares during the period. Institutional investors own 48.55% of the company’s stock.

BeiGene Stock Up 1.8 %

Shares of BGNE traded up $2.55 during trading on Monday, reaching $145.22. The company’s stock had a trading volume of 97,674 shares, compared to its average volume of 231,785. The company has a fifty day moving average of $156.93 and a two-hundred day moving average of $159.56. BeiGene has a twelve month low of $126.97 and a twelve month high of $225.23. The company has a market cap of $14.01 billion, a price-to-earnings ratio of -18.85 and a beta of 0.59. The company has a quick ratio of 1.84, a current ratio of 2.08 and a debt-to-equity ratio of 0.06.

BeiGene (NASDAQ:BGNE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($2.41) EPS for the quarter, topping analysts’ consensus estimates of ($3.07) by $0.66. The firm had revenue of $751.70 million during the quarter, compared to the consensus estimate of $670.09 million. BeiGene had a negative return on equity of 21.70% and a negative net margin of 28.39%. The firm’s revenue was up 67.9% on a year-over-year basis. During the same period in the prior year, the business earned ($3.34) EPS. On average, sell-side analysts predict that BeiGene will post -8.2 EPS for the current fiscal year.

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.