Empire Life Investments Inc. raised its stake in shares of Celgene Co. (NASDAQ:CELG) by 29.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 421,087 shares of the biopharmaceutical company’s stock after acquiring an additional 96,236 shares during the period. Celgene makes up 2.4% of Empire Life Investments Inc.’s investment portfolio, making the stock its 10th biggest holding. Empire Life Investments Inc. owned 0.06% of Celgene worth $26,987,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of CELG. Janney Capital Management LLC grew its holdings in shares of Celgene by 2.9% in the 4th quarter. Janney Capital Management LLC now owns 4,219 shares of the biopharmaceutical company’s stock worth $270,000 after acquiring an additional 120 shares during the period. Winthrop Advisory Group LLC grew its holdings in shares of Celgene by 4.1% in the 4th quarter. Winthrop Advisory Group LLC now owns 3,171 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 125 shares during the period. Private Trust Co. NA grew its holdings in shares of Celgene by 2.2% in the 4th quarter. Private Trust Co. NA now owns 6,245 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 132 shares during the period. Malaga Cove Capital LLC grew its holdings in shares of Celgene by 1.6% in the 4th quarter. Malaga Cove Capital LLC now owns 8,887 shares of the biopharmaceutical company’s stock worth $566,000 after acquiring an additional 143 shares during the period. Finally, Glenview State Bank Trust DEPT. grew its holdings in shares of Celgene by 1.2% in the 4th quarter. Glenview State Bank Trust DEPT. now owns 20,400 shares of the biopharmaceutical company’s stock worth $1,308,000 after acquiring an additional 250 shares during the period. 75.15% of the stock is owned by hedge funds and other institutional investors.
CELG stock opened at $89.74 on Thursday. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $97.43. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.99 and a current ratio of 2.13. The firm has a market cap of $62.45 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.41 and a beta of 1.72.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.07. Celgene had a return on equity of 125.35% and a net margin of 26.48%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the firm earned $2.00 earnings per share. As a group, equities research analysts predict that Celgene Co. will post 10.01 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Mizuho set a $117.00 price target on Celgene and gave the stock a “buy” rating in a report on Tuesday, October 30th. Cantor Fitzgerald restated a “buy” rating and issued a $100.00 price target on shares of Celgene in a report on Thursday, January 3rd. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 5th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Celgene in a report on Thursday, October 25th. Finally, Goldman Sachs Group upgraded Celgene from a “sell” rating to a “neutral” rating and increased their target price for the company from $71.00 to $88.00 in a report on Thursday, January 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Celgene presently has an average rating of “Buy” and an average price target of $109.29.
In related news, Director James J. Loughlin sold 23,466 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $87.29, for a total value of $2,048,347.14. Following the transaction, the director now directly owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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