Oppenheimer & Co. Inc. trimmed its position in Celgene Co. (NASDAQ:CELG) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,100 shares of the biopharmaceutical company’s stock after selling 11,773 shares during the period. Oppenheimer & Co. Inc.’s holdings in Celgene were worth $15,038,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Beach Investment Management LLC. increased its holdings in Celgene by 1,935.3% during the 2nd quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock worth $16,388,000 after purchasing an additional 119,988 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Celgene by 31.9% during the 2nd quarter. CWA Asset Management Group LLC now owns 3,262 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 789 shares in the last quarter. Buckingham Capital Management Inc. increased its holdings in Celgene by 12.3% during the 2nd quarter. Buckingham Capital Management Inc. now owns 17,590 shares of the biopharmaceutical company’s stock worth $2,284,000 after purchasing an additional 1,933 shares in the last quarter. Strategic Advisors LLC increased its holdings in Celgene by 1.8% during the 2nd quarter. Strategic Advisors LLC now owns 2,702 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 48 shares in the last quarter. Finally, Associated Banc Corp increased its holdings in Celgene by 9.1% during the 2nd quarter. Associated Banc Corp now owns 200,643 shares of the biopharmaceutical company’s stock worth $26,058,000 after purchasing an additional 16,752 shares in the last quarter. 78.67% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on CELG. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective for the company in a report on Thursday, January 25th. Mizuho set a $128.00 price objective on Celgene and gave the stock a “buy” rating in a report on Tuesday, December 26th. BTIG Research reissued a “hold” rating on shares of Celgene in a report on Tuesday, January 23rd. BidaskClub raised Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Citigroup reissued a “hold” rating on shares of Celgene in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $128.22.
In other Celgene news, Director James J. Loughlin sold 9,250 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $92.01, for a total transaction of $851,092.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ernest Mario sold 13,370 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,120 shares of company stock worth $3,879,509. Company insiders own 0.95% of the company’s stock.
Celgene Co. (NASDAQ CELG) opened at $89.61 on Friday. Celgene Co. has a 12 month low of $86.55 and a 12 month high of $147.17. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $67,402.49, a P/E ratio of 25.03, a P/E/G ratio of 0.63 and a beta of 1.58.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. Celgene’s revenue for the quarter was up 16.9% on a year-over-year basis. equities analysts expect that Celgene Co. will post 7.66 EPS for the current year.
Celgene announced that its board has initiated a stock repurchase program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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