Groesbeck Investment Management Corp NJ boosted its stake in Celgene Co. (NASDAQ:CELG) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,430 shares of the biopharmaceutical company’s stock after acquiring an additional 180 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Celgene were worth $440,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. First PREMIER Bank purchased a new stake in shares of Celgene in the third quarter worth approximately $26,000. Liberty Wealth Management LLC raised its stake in Celgene by 212.8% in the second quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management acquired a new position in Celgene in the third quarter valued at about $28,000. Massey Quick Simon & CO. LLC acquired a new position in Celgene in the second quarter valued at about $33,000. Finally, Lenox Wealth Advisors LLC acquired a new position in Celgene in the third quarter valued at about $37,000. Institutional investors and hedge funds own 72.31% of the company’s stock.
NASDAQ CELG traded up $0.03 during trading on Monday, hitting $109.57. 2,976,193 shares of the company’s stock were exchanged, compared to its average volume of 6,747,546. The company has a current ratio of 2.89, a quick ratio of 2.80 and a debt-to-equity ratio of 1.51. The company has a market cap of $76.64 billion, a PE ratio of 14.40, a P/E/G ratio of 0.51 and a beta of 1.41. Celgene Co. has a fifty-two week low of $58.59 and a fifty-two week high of $109.75. The stock’s 50 day moving average price is $102.54 and its two-hundred day moving average price is $96.76.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $2.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.29. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. Celgene had a return on equity of 78.15% and a net margin of 34.63%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Analysts forecast that Celgene Co. will post 10.7 earnings per share for the current fiscal year.
CELG has been the subject of a number of analyst reports. Cowen reaffirmed a “hold” rating and issued a $102.00 price target on shares of Celgene in a research note on Tuesday, July 30th. Leerink Swann set a $115.00 price target on Celgene and gave the company a “hold” rating in a research note on Friday, November 1st. ValuEngine downgraded Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research note on Tuesday, July 23rd. Finally, Robert W. Baird downgraded Celgene from an “outperform” rating to a “neutral” rating and set a $101.00 price target for the company. in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Celgene has an average rating of “Hold” and a consensus price target of $97.31.
In other Celgene news, insider Terrie Curran sold 11,338 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $98.27, for a total transaction of $1,114,185.26. Following the completion of the transaction, the insider now owns 13,493 shares of the company’s stock, valued at $1,325,957.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by insiders.
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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