Penn Davis Mcfarland Inc. boosted its stake in Celgene Co. (NASDAQ:CELG) by 149.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,526 shares of the biopharmaceutical company’s stock after purchasing an additional 101,686 shares during the quarter. Celgene comprises 5.2% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 7th largest position. Penn Davis Mcfarland Inc.’s holdings in Celgene were worth $17,692,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. lifted its position in Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares in the last quarter. Robecosam AG acquired a new position in Celgene during the third quarter valued at approximately $114,000. Guidant Wealth Advisors acquired a new position in Celgene during the third quarter valued at approximately $119,000. Finally, Capital Bank & Trust Co lifted its position in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.
A number of research analysts have weighed in on CELG shares. BMO Capital Markets lifted their price target on shares of Celgene from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research report on Wednesday, January 17th. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price target on the stock in a research report on Monday, October 23rd. Cann reaffirmed a “buy” rating on shares of Celgene in a research report on Thursday, October 26th. Finally, Morgan Stanley raised shares of Celgene from an “underweight” rating to an “equal weight” rating in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Celgene presently has a consensus rating of “Buy” and an average target price of $130.25.
Shares of Celgene Co. (NASDAQ:CELG) opened at $95.26 on Friday. The stock has a market cap of $71,652.29, a price-to-earnings ratio of 13.89, a P/E/G ratio of 0.67 and a beta of 1.49. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. Celgene Co. has a twelve month low of $88.32 and a twelve month high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. equities analysts predict that Celgene Co. will post 7.68 EPS for the current fiscal year.
Celgene announced that its board has initiated a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Mark J. Alles purchased 3,260 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased 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 directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.95% of the company’s stock.
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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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