Fagan Associates Inc. Acquires 2,785 Shares of Celgene Co. (CELG)

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Fagan Associates Inc. increased its holdings in Celgene Co. (NASDAQ:CELG) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,848 shares of the biopharmaceutical company’s stock after purchasing an additional 2,785 shares during the period. Fagan Associates Inc.’s holdings in Celgene were worth $2,582,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. KCS Wealth Advisory increased its holdings in shares of Celgene by 29.8% during the third quarter. KCS Wealth Advisory now owns 8,963 shares of the biopharmaceutical company’s stock worth $802,000 after buying an additional 2,057 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Celgene by 17.5% during the third quarter. Motley Fool Asset Management LLC now owns 8,796 shares of the biopharmaceutical company’s stock worth $787,000 after buying an additional 1,309 shares in the last quarter. Thompson Investment Management Inc. increased its holdings in shares of Celgene by 13.0% during the third quarter. Thompson Investment Management Inc. now owns 96,178 shares of the biopharmaceutical company’s stock worth $8,607,000 after buying an additional 11,100 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Celgene by 8.0% during the third quarter. Bessemer Group Inc. now owns 16,341 shares of the biopharmaceutical company’s stock worth $1,463,000 after buying an additional 1,211 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Celgene by 4.9% during the third quarter. Commonwealth Equity Services LLC now owns 186,539 shares of the biopharmaceutical company’s stock worth $16,693,000 after buying an additional 8,676 shares in the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price objective for the company in a report on Wednesday, August 1st. Mizuho reaffirmed a “buy” rating and set a $129.00 price objective on shares of Celgene in a report on Tuesday, July 31st. Cantor Fitzgerald assumed coverage on shares of Celgene in a report on Monday, October 1st. They set an “overweight” rating and a $100.00 price objective for the company. BidaskClub raised shares of Celgene from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Finally, Morgan Stanley raised their price objective on shares of Celgene from $91.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $117.91.

Shares of Celgene stock opened at $74.02 on Friday. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99. The company has a market capitalization of $52.60 billion, a P/E ratio of 10.21, a P/E/G ratio of 0.46 and a beta of 1.53. Celgene Co. has a fifty-two week low of $70.09 and a fifty-two week high of $110.81.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.83 billion. Equities analysts predict that Celgene Co. will post 7.45 earnings per share for the current fiscal year.

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Celgene Profile

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.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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