Beacon Financial Group Acquires New Position in Celgene Co. (CELG)

Beacon Financial Group acquired a new stake in shares of Celgene Co. (NASDAQ:CELG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,405 shares of the biopharmaceutical company’s stock, valued at approximately $351,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thompson Davis & CO. Inc. grew its stake in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares during the period. Motco grew its stake in shares of Celgene by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 159 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Celgene in the 2nd quarter valued at approximately $129,000. Balentine LLC grew its stake in shares of Celgene by 83.5% in the 2nd quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 481 shares during the period. Finally, Acropolis Investment Management LLC purchased a new stake in shares of Celgene in the 2nd quarter valued at approximately $144,000. 80.16% of the stock is owned by institutional investors.

In other news, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on CELG. William Blair reissued an “outperform” rating on shares of Celgene in a research note on Friday, October 20th. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Leerink Swann reissued a “buy” rating and issued a $156.00 price target on shares of Celgene in a research note on Friday, October 20th. Deutsche Bank began coverage on shares of Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price target for the company. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $133.00 price target on shares of Celgene in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Celgene has a consensus rating of “Buy” and a consensus target price of $136.21.

Shares of Celgene Co. (NASDAQ:CELG) opened at $109.41 on Friday. Celgene Co. has a fifty-two week low of $94.55 and a fifty-two week high of $147.17. The firm has a market cap of $86,140.36, a price-to-earnings ratio of 17.10, a PEG ratio of 0.84 and a beta of 1.78. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the business earned $1.58 EPS. The company’s revenue was up 10.2% on a year-over-year basis. sell-side analysts anticipate that Celgene Co. will post 6.68 earnings per share for the current fiscal year.

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About Celgene

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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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