Morse Asset Management Inc lessened its stake in Celgene Co. (NASDAQ:CELG) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,122 shares of the biopharmaceutical company’s stock after selling 2,068 shares during the period. Morse Asset Management Inc’s holdings in Celgene were worth $2,415,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Archford Capital Strategies LLC lifted its stake in Celgene by 277.8% during the first quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Liberty Wealth Management LLC increased its holdings in shares of Celgene by 212.8% during the second quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 200 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Celgene during the first quarter worth approximately $28,000. Weaver Consulting Group acquired a new stake in shares of Celgene during the first quarter worth approximately $29,000. Finally, Alera Investment Advisors LLC increased its holdings in shares of Celgene by 109.9% during the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.
Shares of Celgene stock traded up $0.16 during midday trading on Tuesday, reaching $94.23. The company had a trading volume of 234,159 shares, compared to its average volume of 3,998,600. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97. The firm has a market cap of $66.70 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46. The company’s fifty day moving average is $92.74. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $98.97.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.17. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. Celgene’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 earnings per share. Equities research analysts expect that Celgene Co. will post 9.96 earnings per share for the current year.
CELG has been the subject of several recent analyst reports. Cowen reaffirmed a “hold” rating and set a $102.00 price objective on shares of Celgene in a report on Tuesday, July 30th. ValuEngine lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. BidaskClub raised shares of Celgene from a “strong sell” rating to a “sell” rating in a report on Saturday, August 3rd. Barclays lowered shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective for the company. in a report on Friday, May 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $103.00 price objective on shares of Celgene in a report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $94.81.
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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