Cetera Advisors LLC cut its stake in shares of Celgene Co. (NASDAQ:CELG) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,526 shares of the biopharmaceutical company’s stock after selling 1,329 shares during the period. Cetera Advisors LLC’s holdings in Celgene were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 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 buying an additional 400 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Celgene by 5.9% during the second 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 last quarter. Robecosam AG bought a new position in shares of Celgene during the third quarter valued at approximately $114,000. Capital Bank & Trust Co grew its stake 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 valued at $121,000 after buying an additional 517 shares during the last quarter. Finally, Guidant Wealth Advisors bought a new position in shares of Celgene during the third quarter valued at approximately $119,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
In other Celgene news, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the acquisition, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.95% of the company’s stock.
Shares of Celgene Co. (NASDAQ CELG) traded up $0.47 during midday trading on Wednesday, reaching $91.98. The company’s stock had a trading volume of 7,879,300 shares, compared to its average volume of 8,239,778. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The company has a market cap of $70,260.00, a PE ratio of 25.88, a PEG ratio of 0.64 and a beta of 1.49. Celgene Co. has a 1-year low of $88.32 and a 1-year high of $147.17.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the firm earned $1.61 EPS. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. analysts forecast that Celgene Co. will post 7.68 EPS for the current year.
Celgene announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
CELG has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Cantor Fitzgerald set a $112.00 price objective on Celgene and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Oppenheimer reissued a “buy” rating and issued a $170.00 price objective on shares of Celgene in a research note on Friday, October 20th. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price objective on the stock in a research note on Monday, October 23rd. Finally, Cann reissued a “buy” rating on shares of Celgene in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $130.35.
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Celgene Company Profile
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.
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