Van ECK Associates Corp Sells 89,043 Shares of Celgene Co. (CELG)

Van ECK Associates Corp lowered its stake in shares of Celgene Co. (NASDAQ:CELG) by 15.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,333 shares of the biopharmaceutical company’s stock after selling 89,043 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Celgene worth $72,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Arcadia Investment Management Corp MI boosted its holdings in Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 400 shares in the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Celgene by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares in the last quarter. Guidant Wealth Advisors acquired a new stake in Celgene in the third quarter worth about $119,000. Motco boosted its holdings in Celgene by 19.3% in the second quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 159 shares in the last quarter. Finally, Balentine LLC boosted its holdings in Celgene by 83.5% in the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 481 shares in the last quarter. 79.85% of the stock is currently owned by institutional investors.

Shares of Celgene Co. (NASDAQ:CELG) opened at $102.65 on Friday. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $80,820.00, a PE ratio of 24.21, a P/E/G ratio of 0.66 and a beta of 1.77. Celgene Co. has a twelve month low of $94.55 and a twelve month high of $147.17.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. Celgene’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $1.58 earnings per share. analysts expect that Celgene Co. will post 6.71 EPS for the current fiscal year.

CELG has been the subject of several recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $162.00 price target on shares of Celgene in a report on Tuesday, September 26th. Vetr raised Celgene from a “hold” rating to a “buy” rating and set a $146.58 price target for the company in a report on Friday, October 6th. Royal Bank of Canada reissued a “buy” rating and issued a $173.00 price target on shares of Celgene in a report on Thursday, October 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Celgene in a report on Monday, October 16th. Finally, Jefferies Group reissued a “buy” rating and issued a $160.00 price target on shares of Celgene in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $129.98.

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About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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