SSI Investment Management Inc. lessened its holdings in shares of Celgene Co. (NASDAQ:CELG) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,878 shares of the biopharmaceutical company’s stock after selling 559 shares during the quarter. SSI Investment Management Inc.’s holdings in Celgene were worth $310,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC raised its stake in Celgene by 62.6% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 8,700 shares of the biopharmaceutical company’s stock worth $691,000 after buying an additional 3,350 shares during the period. Pillar Pacific Capital Management LLC raised its stake in Celgene by 3.4% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 83,502 shares of the biopharmaceutical company’s stock worth $6,632,000 after buying an additional 2,730 shares during the period. ARK Investment Management LLC raised its stake in Celgene by 94.9% during the 2nd quarter. ARK Investment Management LLC now owns 91,659 shares of the biopharmaceutical company’s stock worth $7,280,000 after buying an additional 44,637 shares during the period. Girard Partners LTD. raised its stake in Celgene by 14.0% during the 2nd quarter. Girard Partners LTD. now owns 17,427 shares of the biopharmaceutical company’s stock worth $1,384,000 after buying an additional 2,139 shares during the period. Finally, Marcus Capital LLC raised its stake in Celgene by 52.6% during the 2nd quarter. Marcus Capital LLC now owns 8,700 shares of the biopharmaceutical company’s stock worth $691,000 after buying an additional 3,000 shares during the period. 76.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Michael D. Casey sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $78.77, for a total transaction of $1,024,010.00. Following the completion of the sale, the director now owns 27,750 shares in the company, valued at $2,185,867.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John H. Weiland acquired 5,575 shares of Celgene stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average price of $89.73 per share, with a total value of $500,244.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 42,750 shares of company stock valued at $3,533,390. Corporate insiders own 0.39% of the company’s stock.
Several brokerages recently commented on CELG. BidaskClub raised Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Cowen reissued a “buy” rating and issued a $150.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Zacks Investment Research raised Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research note on Wednesday, August 1st. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the company a “hold” rating in a research note on Thursday, May 24th. Finally, Mizuho reissued a “buy” rating and issued a $129.00 price target on shares of Celgene in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $121.85.
Celgene stock opened at $90.37 on Friday. Celgene Co. has a 52 week low of $74.13 and a 52 week high of $147.17. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.52 and a quick ratio of 1.40. The stock has a market cap of $64.15 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.32.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the company posted $1.82 earnings per share. Celgene’s quarterly revenue was up 16.6% on a year-over-year basis. sell-side analysts predict that Celgene Co. will post 7.64 EPS for the current year.
Celgene announced that its Board of Directors has initiated a share repurchase program on Thursday, May 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
Further Reading: Outstanding Shares and The Effect on Share Price
Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.