Short Interest in BeiGene, Ltd. (NASDAQ:BGNE) Expands By 6.4%

BeiGene, Ltd. (NASDAQ:BGNE) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,840,000 shares, an increase of 6.4% from the March 31st total of 1,730,000 shares. Based on an average daily volume of 246,200 shares, the days-to-cover ratio is presently 7.5 days.

BeiGene Price Performance

BGNE opened at $156.53 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.32 and a quick ratio of 2.09. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of -18.42 and a beta of 0.61. The firm’s fifty day moving average price is $155.23 and its two-hundred day moving average price is $166.71. BeiGene has a 1 year low of $126.97 and a 1 year high of $266.67.

BeiGene (NASDAQ:BGNE) last posted its quarterly earnings data on Monday, February 26th. The company reported ($3.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.08. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $632.52 million. BeiGene had a negative net margin of 35.86% and a negative return on equity of 23.12%. The business’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.29) EPS. As a group, analysts anticipate that BeiGene will post -8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BeiGene news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,799,186.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BeiGene news, CEO John Oyler sold 26,716 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,799,186.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Julia Aijun Wang sold 397 shares of BeiGene stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $167.08, for a total transaction of $66,330.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,781 shares of company stock worth $10,222,381. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BeiGene

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in BeiGene by 166.4% during the 3rd quarter. Toronto Dominion Bank now owns 333 shares of the company’s stock worth $60,000 after acquiring an additional 208 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of BeiGene by 20.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 447 shares of the company’s stock worth $80,000 after buying an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of BeiGene in the 4th quarter worth about $98,000. PNC Financial Services Group Inc. boosted its holdings in shares of BeiGene by 123.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 732 shares of the company’s stock worth $132,000 after buying an additional 405 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of BeiGene in the 4th quarter worth about $183,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BGNE shares. Sanford C. Bernstein lowered their price objective on shares of BeiGene from $196.00 to $161.00 and set a “market perform” rating for the company in a research note on Wednesday, March 27th. Guggenheim lowered their price objective on shares of BeiGene from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of BeiGene from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. TD Cowen lifted their price target on shares of BeiGene from $235.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Bank of America reduced their price target on shares of BeiGene from $179.30 to $164.30 and set a “neutral” rating for the company in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.13.

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.