Celgene Co. (CELG) Short Interest Update

Celgene Co. (NASDAQ:CELG) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 23,941,180 shares, a decrease of 30.3% from the May 31st total of 34,342,932 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average trading volume of 6,682,994 shares, the days-to-cover ratio is presently 3.6 days.

In related news, Director Gilla Kaplan sold 27,750 shares of the company’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $78.66, for a total transaction of $2,182,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark J. Alles acquired 1,208 shares of Celgene stock in a transaction that occurred on Wednesday, May 9th. The shares were purchased at an average price of $82.60 per share, with a total value of $99,780.80. Following the transaction, the chief executive officer now owns 187,316 shares of the company’s stock, valued at approximately $15,472,301.60. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 58,500 shares of company stock valued at $4,608,365. 0.39% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Virtue Capital Management LLC bought a new stake in shares of Celgene in the 4th quarter valued at approximately $101,000. American Beacon Advisors Inc. bought a new stake in shares of Celgene in the 4th quarter valued at approximately $120,000. Truewealth LLC bought a new stake in shares of Celgene in the 4th quarter valued at approximately $123,000. Archford Capital Strategies LLC bought a new stake in shares of Celgene in the 1st quarter valued at approximately $124,000. Finally, Wagner Wealth Management LLC bought a new stake in shares of Celgene in the 4th quarter valued at approximately $129,000. 75.46% of the stock is owned by institutional investors.

A number of brokerages have commented on CELG. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the stock a “hold” rating in a research report on Monday, April 2nd. ValuEngine cut Celgene from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. UBS Group set a $106.00 price target on Celgene and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Leerink Swann set a $123.00 price target on Celgene and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Finally, BMO Capital Markets reduced their price target on Celgene from $144.00 to $139.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $123.02.

Shares of Celgene stock opened at $77.25 on Thursday. Celgene has a 12 month low of $74.13 and a 12 month high of $147.17. The company has a market cap of $56.92 billion, a P/E ratio of 11.29, a PEG ratio of 0.50 and a beta of 1.45. The company has a debt-to-equity ratio of 3.92, a current ratio of 2.53 and a quick ratio of 2.36.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. Celgene had a return on equity of 72.92% and a net margin of 20.73%. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. research analysts predict that Celgene will post 7.63 earnings per share for the current year.

Celgene declared that its Board of Directors has approved a share repurchase plan on Thursday, May 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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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