BeiGene, Ltd. (NASDAQ:BGNE) is among the top losers of the stock market today, sinking -3.7% or (-5.12 points) to $133.12 from its previous close of $138.24. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 172195 contracts so far this session. BGNE shares had a relatively better volume day versus average trading capacity of 305.44 thousand shares, but with a 59.04 million float and a 14.02% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BGNE stock indicates that the average analyst price target is $184.85 per share. This means the stock has a potential increase of 38.86% from where the BGNE share price has been trading recently which is between $134.535 and $139.27. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $151.31.
The shorts are climbing into BeiGene, Ltd. (BGNE) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in BGNE shares. While short interest still represents only 5.88% of BGNE’s float, the number of shares shorted have risen by 209691. The number of shares shorted advanced to 3683255 shares, up from 3473564 shares during the preceding fortnight. With average daily trading volumes at 353768 shares, days to cover decreased to about 11.53318 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “BeiGene Announces Clinical Data on Tislelizumab and Zanubrutinib to be Presented at the 24th Congress of the European Hematology Association” and dated May 16, 2019.
During the recent trading session for BeiGene, Ltd. (NASDAQ:BGNE), the company witnessed their stock drop by $-0.88 over a week and surge $13.54 from the price 20 days ago. When compared to their established 52-week high of $220.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/08/18. The recent low of $105.19 stood for a -39.52% since 10/30/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for BeiGene, Ltd., the two-week RSI stands at 53.46. This figure suggests that BGNE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BGNE readings is similarly very revealing as it has a stochastic reading of 83.65% at this stage. This figure means that BGNE share price today is being oversold.
Technical chart claims that BeiGene, Ltd. (BGNE) would settle between $140.16/share to $142.08/share level. However, if the stock price goes below the $135.43 mark, then the market for BeiGene, Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $132.61 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 6.3. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at CLSA raised their recommendation on shares of BGNE from Outperform to Buy in their opinion released on May 10. BofA/Merrill, analysts launched coverage of BeiGene, Ltd. (NASDAQ:BGNE) stock with a Buy recommendation, according to their flash note issued to investors on March 15. Analysts at CLSA lowered the stock to a Outperform call from its previous Buy recommendation, in a research note that dated back to January 04.
BGNE equity has an average rating of 1.67, with the figure leaning towards a bullish end. 12 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 12 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 12 analysts rated BeiGene, Ltd. (NASDAQ:BGNE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BGNE stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 32.46 while for the average stock in the same group, the multiple is 42.11.
BeiGene, Ltd. (BGNE)’s current-quarter revenues are projected to climb by nearly 15.53% to hit $61 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 46.18% from $198220 to a noteworthy $289760. At the other end of the current quarter income statement, BeiGene, Ltd. is expected to see its adjusted earnings surge by roughly -3.08% to hit $-3.01 per share. For the fiscal year, BGNE’s earnings are projected to climb by roughly -8.31% to hit $-13.16 per share.