Private Trust Co. NA lowered its position in shares of Celgene Co. (NASDAQ:CELG) by 23.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,869 shares of the biopharmaceutical company’s stock after selling 1,841 shares during the quarter. Private Trust Co. NA’s holdings in Celgene were worth $466,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtue Capital Management LLC bought a new stake in Celgene in the 4th quarter worth approximately $101,000. American Beacon Advisors Inc. bought a new stake in Celgene in the 4th quarter worth approximately $120,000. Truewealth LLC bought a new stake in Celgene in the 4th quarter worth approximately $123,000. Archford Capital Strategies LLC bought a new stake in Celgene in the 1st quarter worth approximately $124,000. Finally, Wagner Wealth Management LLC bought a new stake in Celgene in the 4th quarter worth approximately $129,000. 75.46% of the stock is owned by institutional investors.
A number of equities research analysts have commented on CELG shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Celgene in a research report on Wednesday, May 30th. Zacks Investment Research downgraded shares of Celgene from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the stock a “hold” rating in a research report on Friday, June 1st. Credit Suisse Group set a $129.00 target price on shares of Celgene and gave the stock a “buy” rating in a research report on Saturday, May 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $93.00 target price on shares of Celgene in a research report on Friday, April 13th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $122.72.
In related news, CEO Mark J. Alles purchased 1,208 shares of the firm’s stock in a transaction on Wednesday, May 9th. The shares were acquired at an average price of $82.60 per share, for a total transaction of $99,780.80. Following the purchase, the chief executive officer now directly owns 187,316 shares in the company, valued at $15,472,301.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gilla Kaplan sold 27,750 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $78.66, for a total transaction of $2,182,815.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,500 shares of company stock worth $4,608,365. 0.39% of the stock is owned by corporate insiders.
Celgene opened at $78.65 on Thursday, according to Marketbeat.com. The company has a debt-to-equity ratio of 3.92, a quick ratio of 2.36 and a current ratio of 2.53. Celgene Co. has a fifty-two week low of $74.13 and a fifty-two week high of $147.17. The firm has a market cap of $57.01 billion, a P/E ratio of 11.33, a PEG ratio of 0.50 and a beta of 1.43.
Celgene (NASDAQ:CELG) last released its earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. Celgene had a net margin of 20.73% and a return on equity of 72.92%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company earned $1.68 EPS. Celgene’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts expect that Celgene Co. will post 7.63 earnings per share for the current year.
Celgene announced that its Board of Directors has approved a stock repurchase program on Thursday, May 24th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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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