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

BeiGene, Ltd. (NASDAQ:BGNE ​​- Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,000,000 shares, a decrease of 11.1% from its August 31st total of 2,250,000 shares. Based on an average trading volume of 279,800 shares, the short interest rate is currently 7.1 days.

BeiGene’s stock performance

Shares of BeiGene traded up $5.89 during mid-day trading on Friday, reaching $218.42. The company had a trading volume of 394,253 shares, compared to its average volume of 249,109. The company has a current ratio of 1.98, a quick ratio of 1.75, and a debt-to-equity ratio of 0.06. BeiGene has a 12-month low of $126.97 and a 12-month high of $223.96. The company’s fifty-day moving average is $187.99, and its 200-day moving average is $166.14. The company has a market cap of $21.17 billion, a price-to-earnings ratio of -28.85 and a beta of 0.61.

BeiGene (NASDAQ:BGNE ​​- Get Your Free Report ) last announced its earnings results on Wednesday, August 7th. The company reported ($1.15) earnings per share for the quarter, topping the consensus estimate of ($2.27) by $1.12. The business 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 company’s quarterly revenue was up 56.1% year over year. During the same period in the previous year, the company posted EPS of ($3.64). equities research analysts forecast that BeiGene will post -5.13 EPS for the current year.

Insider trading at BeiGene

In other news, SVP Chan Henry Lee sold 834 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $160.57, for a total transaction of $133,915.38. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. In related news, COO Xiaobin Wu sold 5,556 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total value of $1,053,695.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Chan Henry Lee sold 834 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were 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. Over the last 90 days, insiders have sold 11,999 shares of company stock worth $2,282,183. Insiders own 7.43% of the company’s shares.

Institutional inputs and outputs

Several large investors have recently made changes to their positions in BGNE. Headlands Technologies LLC purchased a new position in shares of BeiGene in the 1st quarter worth about $50,000. Benjamin F. Edwards & Company Inc. raised its stake in BeiGene by 51.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 821 shares of the company’s stock worth $128,000 after buying an additional 279 shares during the period. Acadian Asset Management LLC boosted its stake in BeiGene by 204.1% in the first quarter. Acadian Asset Management LLC now owns 1,265 shares of the company’s stock worth $197,000 after purchasing an additional 849 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of BeiGene in the first quarter worth about $209,000. Finally, Truist Financial Corp boosted its stake in BeiGene by 10.1% during the second quarter. Truist Financial Corp now owns 1,521 shares of the company’s stock worth $217,000 after buying an additional 140 shares during the period. 48.55% of shares are owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

A number of equities research analysts recently commented on the company. Bank of America dropped their target price on BeiGene from $180.00 to $152.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Citigroup upped their target price on BeiGene from $269.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JMP Securities initiated coverage on BeiGene in a research report on Wednesday, September 18th. They issued a “market outperform” rating and a $288.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on BeiGene from $194.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.21.

See the latest stock analysis on BeiGene

BeiGene Company Profile

(Get a free report)

BeiGene, Ltd., through its subsidiaries, is engaged in the development and commercialization of oncology drugs worldwide. Its products include BRUKINSA for treating various blood cancers; TEVIMBRA to treat various solid tumors and blood cancers; PARTRUVIX for the treatment of various solid malignant tumors; XGEVA for treating bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO for treating acute lymphoblastic leukemia; KYPROLIS for the treatment of R/R multiple myeloma; REVLIMID for treating multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocytic 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, for treating breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advanced renal cell carcinoma; AFINITOR for advanced renal cell carcinoma, NET, SEGA and breast cancers; and ZYKADIA to treat ALK + NSCLC.

Further reading

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