Wealthsource Partners LLC lessened its stake in Celgene (NASDAQ:CELG) by 48.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,175 shares of the biopharmaceutical company’s stock after selling 3,025 shares during the period. Wealthsource Partners LLC’s holdings in Celgene were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of CELG. Halsey Associates Inc. CT increased its stake in shares of Celgene by 5.4% in the 4th quarter. Halsey Associates Inc. CT now owns 155,399 shares of the biopharmaceutical company’s stock valued at $16,217,000 after purchasing an additional 7,988 shares in the last quarter. Altman Advisors Inc. purchased a new position in shares of Celgene in the 4th quarter valued at about $1,672,000. National Asset Management Inc. increased its stake in shares of Celgene by 35.2% in the 4th quarter. National Asset Management Inc. now owns 26,285 shares of the biopharmaceutical company’s stock valued at $2,743,000 after purchasing an additional 6,838 shares in the last quarter. Vanguard Capital Wealth Advisors purchased a new position in shares of Celgene in the 4th quarter valued at about $209,000. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Celgene in the 4th quarter valued at about $529,000. 78.53% of the stock is owned by institutional investors and hedge funds.
In related news, insider Mark J. Alles purchased 3,260 shares of the company’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 transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James J. Loughlin sold 9,250 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $92.01, for a total value of $851,092.50. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 over the last 90 days. Company insiders own 0.95% of the company’s stock.
Several equities analysts recently weighed in on CELG shares. Stifel Nicolaus cut their price target on Celgene from $149.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, December 22nd. Credit Suisse Group set a $123.00 price target on Celgene and gave the company a “buy” rating in a research note on Friday, December 22nd. Oppenheimer set a $166.00 price target on Celgene and gave the company a “buy” rating in a research note on Friday, December 22nd. Citigroup restated a “hold” rating on shares of Celgene in a research note on Friday, December 22nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $147.00 price target on shares of Celgene in a research note on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $126.95.
CELG stock opened at $88.95 on Friday. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $67,409.98, a PE ratio of 13.06, a P/E/G ratio of 0.60 and a beta of 1.49. Celgene has a 1 year low of $84.25 and a 1 year high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. equities research analysts predict that Celgene will post 7.69 EPS for the current fiscal year.
Celgene announced that its board has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase 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, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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