TRUE Private Wealth Advisors purchased a new stake in Celgene Co. (NASDAQ:CELG) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,315 shares of the biopharmaceutical company’s stock, valued at approximately $241,000.
Several other hedge funds also recently bought and sold shares of CELG. Thompson Davis & CO. Inc. grew its position in shares of Celgene by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG purchased a new stake in shares of Celgene in the third quarter valued at approximately $114,000. Guidant Wealth Advisors purchased a new stake in shares of Celgene in the third quarter valued at approximately $119,000. Finally, Capital Bank & Trust Co grew its position in shares of Celgene by 166.8% in the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.
A number of equities research analysts have recently issued reports on CELG shares. Royal Bank of Canada dropped their price target on Celgene from $166.00 to $148.00 and set a “top pick” rating for the company in a research report on Friday, October 27th. Morgan Stanley dropped their price target on Celgene from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, October 23rd. Mizuho restated a “buy” rating and issued a $128.00 price target on shares of Celgene in a research report on Sunday, February 4th. SunTrust Banks lowered their price objective on Celgene from $156.00 to $127.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, Cantor Fitzgerald set a $162.00 price objective on Celgene and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $130.25.
Celgene Co. (CELG) opened at $95.26 on Monday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. Celgene Co. has a 52 week low of $88.32 and a 52 week high of $147.17. The company has a market capitalization of $71,652.25, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 0.67 and a beta of 1.49.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. sell-side analysts predict that Celgene Co. will post 7.68 EPS for the current fiscal year.
Celgene announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, insider Mark J. Alles acquired 3,260 shares of Celgene stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the purchase, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by company insiders.
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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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