Rockefeller Capital Management L.P. bought a new stake in Celgene (NASDAQ:CELG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,457 shares of the biopharmaceutical company’s stock, valued at approximately $3,698,000.
A number of other large investors also recently modified their holdings of CELG. Capital Bank & Trust Co lifted its stake in shares of Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares during the last quarter. Virtue Capital Management LLC acquired a new position in shares of Celgene in the 4th quarter valued at $101,000. American Beacon Advisors Inc. acquired a new position in shares of Celgene in the 4th quarter valued at $120,000. Truewealth LLC acquired a new position in shares of Celgene in the 4th quarter valued at $123,000. Finally, Wagner Wealth Management LLC acquired a new position in shares of Celgene in the 4th quarter valued at $129,000. Institutional investors own 75.69% of the company’s stock.
In related news, CEO Mark J. Alles purchased 1,208 shares of Celgene stock in a transaction on Wednesday, May 9th. The shares were bought at an average price of $82.60 per share, with a total value of $99,780.80. Following the transaction, the chief executive officer now directly owns 187,316 shares of the company’s stock, valued at $15,472,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilla Kaplan sold 27,750 shares of the stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $78.66, for a total value of $2,182,815.00. The disclosure for this sale can be found here. Insiders sold a total of 50,370 shares of company stock worth $4,297,239 in the last ninety days. 0.95% of the stock is owned by corporate insiders.
Several brokerages have recently commented on CELG. Argus lowered Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday. Sanford C. Bernstein raised Celgene from a “market perform” rating to an “outperform” rating and set a $102.00 price target on the stock in a research note on Wednesday. Zacks Investment Research lowered Celgene from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Morgan Stanley decreased their price target on Celgene from $93.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Monday, May 7th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $115.00 price target (down previously from $123.00) on shares of Celgene in a research note on Monday, May 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $123.35.
CELG stock opened at $77.66 on Thursday. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 3.92. The stock has a market capitalization of $55.53 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.48 and a beta of 1.49. Celgene has a 1 year low of $74.13 and a 1 year high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.47 billion. Celgene had a return on equity of 72.92% and a net margin of 20.73%. Celgene’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. equities analysts forecast that Celgene will post 7.63 EPS for the current fiscal year.
Celgene declared that its board has approved a share repurchase 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. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
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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