Friedberg Investment Management Reduces Stake in Celgene Co. (CELG)

Friedberg Investment Management cut its holdings in Celgene Co. (NASDAQ:CELG) by 90.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the biopharmaceutical company’s stock after selling 19,160 shares during the quarter. Friedberg Investment Management’s holdings in Celgene were worth $292,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Thompson Davis & CO. Inc. boosted its stake in Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the last quarter. Guidant Wealth Advisors acquired a new position in shares of Celgene in the 3rd quarter valued at $119,000. Motco lifted its stake in Celgene by 19.3% during the 2nd 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, Penserra Capital Management LLC acquired a new position in Celgene during the 2nd quarter worth about $129,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

Shares of Celgene Co. (CELG) traded up $1.49 during trading on Friday, reaching $92.51. The company had a trading volume of 10,465,217 shares, compared to its average volume of 8,240,000. The company has a debt-to-equity ratio of 2.29, a quick ratio of 3.52 and a current ratio of 4.99. The company has a market capitalization of $69,580.00, a price-to-earnings ratio of 25.63, a P/E/G ratio of 0.66 and a beta of 1.49. Celgene Co. has a 1 year low of $88.32 and a 1 year high of $147.17.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. Celgene’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 earnings per share. equities analysts anticipate that Celgene Co. will post 7.68 EPS for the current year.

Several equities research analysts have weighed in on CELG shares. UBS Group cut their price target on Celgene from $153.00 to $146.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Stifel Nicolaus cut their price target on Celgene from $155.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, October 20th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Celgene in a report on Monday, October 16th. Jefferies Group reiterated a “buy” rating and issued a $160.00 price objective on shares of Celgene in a report on Monday, October 16th. Finally, Cantor Fitzgerald set a $162.00 price objective on Celgene and gave the company a “buy” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $130.35.

In related news, insider Mark J. Alles bought 3,260 shares of the stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is currently owned by corporate insiders.

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Celgene Profile

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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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