Twin Securities Inc. increased its stake in Celgene Co. (NASDAQ:CELG) by 231.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 322,721 shares of the biopharmaceutical company’s stock after acquiring an additional 225,453 shares during the quarter. Celgene comprises 10.8% of Twin Securities Inc.’s holdings, making the stock its 4th largest holding. Twin Securities Inc.’s holdings in Celgene were worth $29,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in CELG. Archford Capital Strategies LLC boosted its holdings in shares of Celgene by 277.8% during the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Liberty Wealth Management LLC lifted its stake in shares of Celgene by 212.8% in the second quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. Weaver Consulting Group bought a new position in shares of Celgene in the first quarter valued at $29,000. Alera Investment Advisors LLC lifted its stake in shares of Celgene by 109.9% in the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 167 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Celgene in the first quarter valued at $31,000. Institutional investors and hedge funds own 72.51% of the company’s stock.
Several research firms have recently commented on CELG. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research report on Tuesday, July 23rd. BidaskClub cut shares of Celgene from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho cut shares of Celgene from a “buy” rating to a “neutral” rating and dropped their price target for the company from $103.00 to $100.00 in a research report on Monday, August 19th. ValuEngine downgraded Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, Cowen reissued a “hold” rating and set a $102.00 price objective on shares of Celgene in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $94.60.
Celgene stock traded down $0.08 during midday trading on Monday, hitting $97.07. 1,872,033 shares of the stock were exchanged, compared to its average volume of 7,490,687. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $98.97. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97. The business’s 50-day moving average price is $94.19 and its 200-day moving average price is $93.19. The stock has a market capitalization of $69.11 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.46 and a beta of 1.41.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.17. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts predict that Celgene Co. will post 9.96 earnings per share for the current fiscal year.
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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