Celgene (CELG) Position Boosted by Bank of The West

Bank of The West lifted its stake in Celgene (NASDAQ:CELG) by 8.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,332 shares of the biopharmaceutical company’s stock after purchasing an additional 761 shares during the quarter. Bank of The West’s holdings in Celgene were worth $833,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Pendal Group Ltd boosted its position in Celgene by 37.4% during the 1st quarter. Pendal Group Ltd now owns 194,236 shares of the biopharmaceutical company’s stock worth $17,328,000 after acquiring an additional 52,823 shares during the period. Associated Banc Corp boosted its position in Celgene by 34.9% during the 1st quarter. Associated Banc Corp now owns 202,469 shares of the biopharmaceutical company’s stock worth $18,062,000 after acquiring an additional 52,380 shares during the period. ING Groep NV boosted its position in Celgene by 19.6% during the 1st quarter. ING Groep NV now owns 183,437 shares of the biopharmaceutical company’s stock worth $16,364,000 after acquiring an additional 30,022 shares during the period. Vantage Financial Partners Ltd. Inc. boosted its position in Celgene by 13.4% during the 1st quarter. Vantage Financial Partners Ltd. Inc. now owns 9,300 shares of the biopharmaceutical company’s stock worth $830,000 after acquiring an additional 1,100 shares during the period. Finally, Johnson Financial Group Inc. boosted its position in Celgene by 9.2% during the 1st quarter. Johnson Financial Group Inc. now owns 12,533 shares of the biopharmaceutical company’s stock worth $1,118,000 after acquiring an additional 1,056 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

A number of equities research analysts have commented on the company. Zacks Investment Research lowered Celgene from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Morgan Stanley decreased their price objective on Celgene from $93.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, May 7th. Leerink Swann restated a “buy” rating and set a $115.00 price objective (down from $123.00) on shares of Celgene in a research report on Monday, May 7th. Barclays set a $107.00 price objective on Celgene and gave the stock a “buy” rating in a research report on Sunday, May 6th. Finally, Royal Bank of Canada downgraded Celgene from a “top pick” rating to an “outperform” rating and set a $120.00 price target for the company. in a research note on Monday, May 7th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Celgene currently has a consensus rating of “Buy” and a consensus price target of $123.98.

Shares of Celgene opened at $79.98 on Friday, Marketbeat reports. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 3.92. Celgene has a twelve month low of $81.66 and a twelve month high of $83.37. The company has a market capitalization of $59.42 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.55 and a beta of 1.49.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.09. Celgene had a return on equity of 72.92% and a net margin of 20.73%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business earned $1.68 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. research analysts forecast that Celgene will post 7.63 EPS for the current year.

Celgene announced that its board has initiated a share buyback plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark J. Alles bought 1,208 shares of the stock in a transaction on Wednesday, May 9th. The stock was acquired at an average cost of $82.60 per share, for a total transaction of $99,780.80. Following the acquisition, the chief executive officer now directly owns 187,316 shares in the company, valued at $15,472,301.60. The disclosure for this purchase can be found here. Insiders sold a total of 31,870 shares of company stock worth $2,991,601 over the last three months. 0.95% of the stock is owned by company insiders.

About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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