Jag Capital Management LLC decreased its position in Celgene Co. (NASDAQ:CELG) by 77.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,728 shares of the biopharmaceutical company’s stock after selling 80,137 shares during the quarter. Jag Capital Management LLC’s holdings in Celgene were worth $2,372,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI raised its position 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 worth $107,000 after purchasing an additional 400 shares during the period. Thompson Davis & CO. Inc. raised its position 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 worth $100,000 after purchasing an additional 43 shares during the period. Robecosam AG acquired a new stake in shares of Celgene during the third quarter worth $114,000. Capital Bank & Trust Co raised its position 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 worth $121,000 after purchasing an additional 517 shares during the period. Finally, Guidant Wealth Advisors acquired a new stake in shares of Celgene during the third quarter worth $119,000. Institutional investors and hedge funds own 77.84% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. UBS Group lowered Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 target price on the stock. in a research report on Thursday, October 26th. BMO Capital Markets cut their target price on Celgene from $163.00 to $148.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Barclays reaffirmed an “equal weight” rating and set a $105.00 target price (down from $135.00) on shares of Celgene in a research report on Friday, October 27th. Finally, Deutsche Bank initiated coverage on Celgene in a research report on Tuesday, December 12th. They set a “hold” rating and a $114.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Celgene has an average rating of “Buy” and an average target price of $130.25.
In other news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total transaction of $877,177.50. Following the completion of the sale, the director now owns 94,801 shares in the company, valued at approximately $8,989,978.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark J. Alles purchased 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the purchase, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company’s stock.
Celgene Co. (NASDAQ:CELG) opened at $93.85 on Wednesday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. 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 $70,590.00, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.67 and a beta of 1.49.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. equities research analysts forecast that Celgene Co. will post 7.68 EPS for the current fiscal year.
Celgene announced that its board has initiated a stock repurchase program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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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