Korea Investment CORP boosted its holdings in shares of Celgene Co. (NASDAQ:CELG) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 664,446 shares of the biopharmaceutical company’s stock after buying an additional 10,681 shares during the period. Korea Investment CORP owned approximately 0.09% of Celgene worth $59,275,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Virtue Capital Management LLC acquired a new position in shares of Celgene in the 4th quarter worth approximately $101,000. American Beacon Advisors Inc. bought a new position in Celgene in the 4th quarter valued at $120,000. Capital Bank & Trust Co boosted its position in Celgene by 166.8% in the 3rd 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 during the last quarter. Truewealth LLC bought a new position in Celgene in the 4th quarter valued at $123,000. Finally, Wagner Wealth Management LLC bought a new position in Celgene in the 4th quarter valued at $129,000. 75.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Mark J. Alles purchased 1,208 shares of the company’s stock in a transaction on Wednesday, May 9th. The stock was acquired at an average cost of $82.60 per share, for a total transaction of $99,780.80. Following the completion of the transaction, the chief executive officer now directly owns 187,316 shares in the company, valued at approximately $15,472,301.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James J. Loughlin sold 17,750 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $78.96, for a total transaction of $1,401,540.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,500 shares of company stock valued at $4,608,365. 0.39% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on the company. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the stock a “hold” rating in a research report on Friday, June 1st. Canaccord Genuity reissued a “buy” rating on shares of Celgene in a research note on Wednesday, May 30th. SunTrust Banks lowered their target price on Celgene from $106.00 to $96.00 and set a “hold” rating on the stock in a research report on Tuesday, May 29th. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a report on Friday, May 25th. Finally, Argus cut Celgene from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Celgene currently has an average rating of “Buy” and an average price target of $123.02.
Shares of Celgene traded up $1.01, reaching $78.39, during mid-day trading on Thursday, MarketBeat reports. The stock had a trading volume of 5,798,015 shares, compared to its average volume of 7,456,219. Celgene Co. has a 52-week low of $74.13 and a 52-week high of $147.17. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 3.92. The stock has a market capitalization of $56.78 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.49 and a beta of 1.45.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.09. Celgene had a net margin of 20.73% and a return on equity of 72.92%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. equities analysts predict that Celgene Co. will post 7.63 EPS for the current year.
Celgene announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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