Captrust Financial Advisors purchased a new stake in Celgene (NASDAQ:CELG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,324 shares of the biopharmaceutical company’s stock, valued at approximately $1,495,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CELG. Arcadia Investment Management Corp MI grew its stake in shares of 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 in the last quarter. Robecosam AG acquired a new stake in shares of Celgene during the third quarter valued at about $114,000. Capital Bank & Trust Co lifted its position in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the last quarter. Guidant Wealth Advisors bought a new position in shares of Celgene during the third quarter worth about $119,000. Finally, Virtue Capital Management LLC bought a new position in shares of Celgene during the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.
In related news, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 41,120 shares of company stock worth $3,879,509. Corporate insiders own 0.95% of the company’s stock.
CELG opened at $90.54 on Tuesday. The company has a market cap of $67,244.50, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.60 and a beta of 1.48. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene has a twelve month low of $84.25 and a twelve month high of $147.17.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. analysts anticipate that Celgene will post 7.66 earnings per share for the current year.
Celgene declared that its board has approved a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
CELG has been the topic of several research analyst reports. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the stock a “hold” rating in a research report on Wednesday, January 17th. William Blair reaffirmed a “buy” rating on shares of Celgene in a research report on Wednesday, February 28th. BMO Capital Markets reaffirmed a “buy” rating and set a $147.00 price target on shares of Celgene in a research report on Friday, December 22nd. Credit Suisse Group set a $129.00 price target on shares of Celgene and gave the stock a “buy” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research cut shares of Celgene from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $126.95.
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Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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