Private Advisor Group LLC lowered its holdings in Celgene Co. (NASDAQ:CELG) by 26.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,775 shares of the biopharmaceutical company’s stock after selling 26,973 shares during the quarter. Private Advisor Group LLC’s holdings in Celgene were worth $8,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Arcadia Investment Management Corp MI increased 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 acquiring an additional 400 shares during the last quarter. Robecosam AG bought a new stake in Celgene during the third quarter valued at about $114,000. Guidant Wealth Advisors bought a new stake in Celgene during the third quarter valued at about $119,000. Capital Bank & Trust Co grew its holdings 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 purchasing an additional 517 shares during the period. Finally, Fusion Family Wealth LLC bought a new stake in Celgene during the fourth quarter valued at about $136,000. Hedge funds and other institutional investors own 78.60% of the company’s stock.
A number of equities analysts have recently weighed in on the company. BidaskClub lowered Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Leerink Swann reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Celgene in a research note on Friday, December 22nd. BTIG Research reaffirmed a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. UBS set a $106.00 price objective on Celgene and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, William Blair reaffirmed a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $128.22.
CELG stock opened at $88.27 on Wednesday. Celgene Co. has a 52 week low of $86.55 and a 52 week high of $147.17. The stock has a market capitalization of $66,590.10, a P/E ratio of 24.66, a P/E/G ratio of 0.63 and a beta of 1.58. 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 (NASDAQ:CELG) last announced its 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 business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. analysts expect that Celgene Co. will post 7.66 EPS for the current year.
Celgene declared that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Celgene news, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction dated Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now directly owns 94,801 shares of the company’s stock, valued at approximately $9,099,947.99. The disclosure for this sale can be found here. Insiders have sold a total of 41,120 shares of company stock worth $3,879,509 in the last ninety days. Insiders own 0.95% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2018/03/21/celgene-co-celg-stake-decreased-by-private-advisor-group-llc.html.
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.
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.