Analyst IMS Investment Management Services Ltd. grew its stake in shares of Celgene Co. (NASDAQ:CELG) by 45.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,117 shares of the biopharmaceutical company’s stock after purchasing an additional 3,171 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in Celgene were worth $1,055,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Celgene by 5.7% during the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Nicholas Company Inc. raised its position in shares of Celgene by 2.1% in the 2nd quarter. Nicholas Company Inc. now owns 441,200 shares of the biopharmaceutical company’s stock worth $57,298,000 after acquiring an additional 9,285 shares in the last quarter. Amalgamated Bank raised its position in shares of Celgene by 56.7% in the 2nd quarter. Amalgamated Bank now owns 91,451 shares of the biopharmaceutical company’s stock worth $11,877,000 after acquiring an additional 33,092 shares in the last quarter. BlueMountain Capital Management LLC raised its position in shares of Celgene by 1,324.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 34,530 shares of the biopharmaceutical company’s stock worth $4,484,000 after acquiring an additional 32,106 shares in the last quarter. Finally, BT Investment Management Ltd bought a new position in shares of Celgene in the 2nd quarter worth $5,624,000. 78.63% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total value of $877,177.50. Following the sale, the director now owns 94,801 shares in the company, valued at $8,989,978.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark J. Alles bought 3,260 shares of the stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 41,120 shares of company stock worth $3,879,509. Company insiders own 0.95% of the company’s stock.
Celgene stock traded up $1.03 during trading hours on Thursday, hitting $89.74. 5,352,501 shares of the stock traded hands, compared to its average volume of 7,954,150. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. The company has a market cap of $67,274.59, a PE ratio of 13.12, a PEG ratio of 0.60 and a beta of 1.49. Celgene Co. has a 1 year low of $84.25 and a 1 year high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. analysts predict that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene announced that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on CELG. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price target for the company in a research report on Thursday, January 25th. Mizuho set a $128.00 price target on Celgene and gave the stock a “buy” rating in a research report on Tuesday, December 26th. BTIG Research reissued a “hold” rating on shares of Celgene in a research report on Tuesday, January 23rd. ValuEngine lowered Celgene from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Citigroup reissued a “hold” rating on shares of Celgene in a research report on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $127.68.
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Celgene Company Profile
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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