Cullinan Associates Inc. grew its holdings in Celgene Co. (NASDAQ:CELG) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,615 shares of the biopharmaceutical company’s stock after buying an additional 6,700 shares during the quarter. Cullinan Associates Inc.’s holdings in Celgene were worth $6,319,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CELG. Ayalon Holdings Ltd. purchased a new stake in shares of Celgene during the second quarter worth approximately $100,000. Atlantic Trust LLC purchased a new stake in shares of Celgene during the second quarter worth approximately $101,000. Acropolis Investment Management LLC purchased a new stake in shares of Celgene during the second quarter worth approximately $112,000. City Holding Co. purchased a new stake in shares of Celgene during the second quarter worth approximately $143,000. Finally, Sun Life Financial INC increased its position in shares of Celgene by 528.9% during the second quarter. Sun Life Financial INC now owns 1,918 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.
In other news, Director Ernest Mario sold 12,000 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total value of $1,107,840.00. Following the transaction, the director now owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John H. Weiland purchased 5,575 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was acquired at an average cost of $89.73 per share, for a total transaction of $500,244.75. The disclosure for this purchase can be found here. Corporate insiders own 0.39% of the company’s stock.
CELG has been the subject of several research reports. Zacks Investment Research cut Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Cantor Fitzgerald initiated coverage on Celgene in a research report on Monday, October 1st. They set an “overweight” rating and a $100.00 price target for the company. Morgan Stanley boosted their price target on Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $119.99.
Shares of Celgene stock traded down $0.43 during trading hours on Friday, hitting $82.52. The company’s stock had a trading volume of 277,430 shares, compared to its average volume of 4,354,591. Celgene Co. has a twelve month low of $74.13 and a twelve month high of $137.45. The firm has a market cap of $59.28 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.30. The company has a quick ratio of 1.40, a current ratio of 1.52 and a debt-to-equity ratio of 5.76.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the company posted $1.82 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts expect that Celgene Co. will post 7.8 earnings per share for the current year.
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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