Flagship Harbor Advisors LLC grew its holdings in Celgene Co. (NASDAQ:CELG) by 41.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,368 shares of the biopharmaceutical company’s stock after acquiring an additional 980 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Celgene were worth $347,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. LSV Asset Management acquired a new stake in Celgene in the second quarter worth about $1,701,000. Spectrum Management Group Inc. acquired a new stake in Celgene in the second quarter worth about $462,000. Polen Capital Management LLC boosted its holdings in Celgene by 7.7% in the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after acquiring an additional 363,108 shares in the last quarter. BlackRock Inc. boosted its holdings in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after acquiring an additional 3,084,227 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares in the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.
CELG has been the subject of a number of research reports. UBS Group downgraded Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 target price for the company. in a report on Thursday, October 26th. Wells Fargo & Co downgraded Celgene from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. Cann reaffirmed a “buy” rating on shares of Celgene in a report on Thursday, October 26th. Cantor Fitzgerald set a $162.00 target price on Celgene and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Vetr downgraded Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 target price for the company. in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $130.25.
In other news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now directly owns 94,801 shares in the company, valued at $9,099,947.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark J. Alles acquired 3,260 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. 0.95% of the stock is owned by insiders.
Celgene Co. (CELG) opened at $93.78 on Friday. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $70,621.77, a P/E ratio of 13.69, a P/E/G ratio of 0.66 and a beta of 1.49. Celgene Co. has a 12-month low of $88.32 and a 12-month high of $147.17.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $3.48 billion during 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%. Celgene’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the business earned $1.61 earnings per share. equities analysts predict that Celgene Co. will post 7.68 EPS for the current year.
Celgene announced that its board has approved a share buyback plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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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