Cypress Capital Management LLC WY lessened its stake in shares of Celgene Co. (NASDAQ:CELG) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,744 shares of the biopharmaceutical company’s stock after selling 1,200 shares during the quarter. Celgene makes up approximately 1.7% of Cypress Capital Management LLC WY’s portfolio, making the stock its 14th biggest position. Cypress Capital Management LLC WY’s holdings in Celgene were worth $1,677,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO bought a new position in shares of Celgene during the second quarter valued at approximately $1,307,000. Prospera Financial Services Inc bought a new position in shares of Celgene during the second quarter valued at approximately $352,000. Bangor Savings Bank raised its holdings in shares of Celgene by 21.2% during the third quarter. Bangor Savings Bank now owns 18,049 shares of the biopharmaceutical company’s stock valued at $1,615,000 after acquiring an additional 3,157 shares in the last quarter. Korea Investment CORP raised its holdings in shares of Celgene by 1.5% during the second quarter. Korea Investment CORP now owns 674,446 shares of the biopharmaceutical company’s stock valued at $53,565,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Headinvest LLC bought a new position in shares of Celgene during the second quarter valued at approximately $1,819,000. 72.98% of the stock is owned by hedge funds and other institutional investors.
In related news, Director John H. Weiland bought 5,575 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average cost of $89.73 per share, with a total value of $500,244.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernest Mario sold 12,000 shares of the 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 completion of the sale, the director now directly owns 44,413 shares in the company, valued at $4,100,208.16. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
A number of equities analysts recently commented on the company. Mizuho set a $117.00 target price on Celgene and gave the company a “buy” rating in a report on Tuesday. UBS Group set a $94.00 target price on Celgene and gave the company a “buy” rating in a report on Saturday, October 27th. Leerink Swann set a $112.00 target price on Celgene and gave the company a “hold” rating in a report on Friday, October 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a report on Thursday, October 25th. Finally, BidaskClub downgraded Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $117.91.
CELG opened at $75.61 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $50.58 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.44 and a beta of 1.30. Celgene Co. has a 12-month low of $70.09 and a 12-month high of $110.81.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.27. Celgene had a return on equity of 108.76% and a net margin of 19.64%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.83 billion. On average, equities analysts predict that Celgene Co. will post 7.45 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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