Ropes Wealth Advisors LLC lessened its stake in shares of Celgene Co. (NASDAQ:CELG) by 52.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,001 shares of the biopharmaceutical company’s stock after selling 4,354 shares during the period. Ropes Wealth Advisors LLC’s holdings in Celgene were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WP Advisors LLC bought a new position in shares of Celgene during the 1st quarter valued at about $190,000. Louisiana State Employees Retirement System boosted its holdings in shares of Celgene by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 37,100 shares of the biopharmaceutical company’s stock valued at $3,500,000 after purchasing an additional 400 shares during the last quarter. First Bank & Trust boosted its holdings in shares of Celgene by 7.4% during the 1st quarter. First Bank & Trust now owns 3,169 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 217 shares during the last quarter. Havens Advisors LLC bought a new position in shares of Celgene during the 1st quarter valued at about $8,019,000. Finally, David R. Rahn & Associates Inc. bought a new position in shares of Celgene during the 1st quarter valued at about $1,549,000. 74.92% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on CELG shares. Cantor Fitzgerald reissued a “buy” rating and set a $100.00 price objective on shares of Celgene in a report on Thursday, January 3rd. William Blair reaffirmed a “buy” rating on shares of Celgene in a report on Thursday, February 28th. Mizuho set a $103.00 price target on shares of Celgene and gave the company a “buy” rating in a report on Friday, April 5th. Morgan Stanley lowered their price target on shares of Celgene from $93.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, December 19th. Finally, Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $99.41.
In related news, Director Ernest Mario bought 2,000 shares of Celgene stock in a transaction dated Tuesday, February 12th. The shares were acquired at an average cost of $89.99 per share, with a total value of $179,980.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Loughlin sold 23,466 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $87.29, for a total transaction of $2,048,347.14. Following the transaction, the director now directly owns 62,102 shares in the company, valued at $5,420,883.58. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Celgene stock traded up $0.85 during midday trading on Monday, reaching $94.99. The stock had a trading volume of 399,473 shares, compared to its average volume of 10,548,589. The company has a debt-to-equity ratio of 3.21, a current ratio of 2.23 and a quick ratio of 2.12. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $95.30. The firm has a market capitalization of $66.18 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.07. Celgene had a net margin of 26.48% and a return on equity of 114.66%. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the prior year, the company posted $2.00 EPS. Research analysts anticipate that Celgene Co. will post 10.01 earnings per share for the current fiscal year.
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Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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