MetLife Investment Advisors LLC purchased a new stake in Celgene (NASDAQ:CELG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 243,602 shares of the biopharmaceutical company’s stock, valued at approximately $25,422,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Virtue Capital Management LLC acquired a new position in shares of Celgene during the fourth quarter worth approximately $101,000. Robecosam AG acquired a new position in shares of Celgene during the third quarter worth approximately $114,000. Guidant Wealth Advisors acquired a new position in shares of Celgene during the third quarter worth approximately $119,000. American Beacon Advisors Inc. acquired a new position in shares of Celgene during the fourth quarter worth approximately $120,000. Finally, Capital Bank & Trust Co raised 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 period. 78.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on CELG. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 target price on the stock in a research report on Thursday, January 25th. Mizuho set a $128.00 target price on Celgene and gave the stock a “buy” rating in a research report on Tuesday, December 26th. BTIG Research reaffirmed a “hold” rating on shares of Celgene in a research report on Tuesday, January 23rd. ValuEngine lowered Celgene from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Finally, Citigroup reaffirmed a “hold” rating on shares of Celgene in a research report on Friday, December 22nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Celgene currently has an average rating of “Buy” and a consensus target price of $126.95.
CELG stock opened at $89.62 on Friday. 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 firm has a market cap of $68,523.20, a PE ratio of 13.10, a PEG ratio of 0.61 and a beta of 1.49. Celgene has a fifty-two week low of $84.25 and a fifty-two week 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 for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 EPS. equities analysts forecast that Celgene will post 7.66 EPS for the current year.
Celgene announced that its Board of Directors has initiated a share 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 buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, Director James J. Loughlin sold 9,250 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $92.01, for a total transaction of $851,092.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark J. Alles acquired 3,260 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the acquisition, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Insiders have sold a total of 41,120 shares of company stock valued at $3,879,509 in the last quarter. 0.95% of the stock is owned by corporate insiders.
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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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