Quinn Opportunity Partners LLC purchased a new stake in shares of Celgene Co. (NASDAQ:CELG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,000 shares of the biopharmaceutical company’s stock, valued at approximately $522,000.
Other institutional investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI increased its stake 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 worth $107,000 after acquiring an additional 400 shares during the period. Robecosam AG acquired a new stake in shares of Celgene in the third quarter worth $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene in the third quarter worth $119,000. American Beacon Advisors Inc. acquired a new stake in shares of Celgene in the fourth quarter worth $120,000. Finally, Capital Bank & Trust Co increased its stake 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 worth $121,000 after acquiring an additional 517 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.
CELG opened at $86.95 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 cap of $65,401.70, a price-to-earnings ratio of 12.67, a P/E/G ratio of 0.58 and a beta of 1.49. Celgene Co. has a 52-week low of $84.25 and a 52-week high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. research analysts anticipate that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene declared that its board has authorized a stock buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of research firms have recently weighed in on CELG. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective on the stock in a research note on Thursday, January 25th. Mizuho set a $128.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research note on Tuesday, December 26th. BTIG Research reiterated a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. BidaskClub upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Citigroup reiterated a “hold” rating on shares of Celgene in a research note on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene has an average rating of “Buy” and an average target price of $127.68.
In other news, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the transaction, the director now directly owns 94,801 shares of the company’s stock, valued at $9,099,947.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark J. Alles purchased 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 41,120 shares of company stock worth $3,879,509. Insiders own 0.95% of the company’s stock.
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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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