Parsons Capital Management Inc. RI lessened its position in shares of Celgene Co. (NASDAQ:CELG) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 48,947 shares of the biopharmaceutical company’s stock after selling 1,515 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Celgene were worth $5,108,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CELG. Thompson Davis & CO. Inc. lifted its holdings in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the period. Robecosam AG acquired a new position in Celgene in the 3rd quarter worth about $114,000. Guidant Wealth Advisors acquired a new position in Celgene in the 3rd quarter worth about $119,000. Finally, Capital Bank & Trust Co raised its holdings in Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.
A number of equities analysts recently weighed in on CELG shares. Mizuho reaffirmed a “buy” rating and issued a $128.00 price target on shares of Celgene in a report on Sunday, February 4th. Credit Suisse Group set a $125.00 price target on Celgene and gave the stock a “buy” rating in a report on Monday, January 8th. Vetr cut Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price target for the company. in a report on Monday, December 18th. Cann reaffirmed a “buy” rating and issued a $163.00 price target on shares of Celgene in a report on Thursday, February 15th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $120.00 price target on shares of Celgene in a report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $128.22.
In related news, insider Mark J. Alles purchased 3,260 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total value of $877,177.50. Following the completion of the sale, the director now owns 94,801 shares of the company’s stock, valued at $8,989,978.83. The disclosure for this sale can be found here. Insiders sold 31,870 shares of company stock valued at $3,028,416 over the last 90 days. Company insiders own 0.95% of the company’s stock.
Shares of Celgene Co. (NASDAQ CELG) opened at $89.17 on Wednesday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The stock has a market capitalization of $66,973.72, a P/E ratio of 24.91, a PEG ratio of 0.63 and a beta of 1.58. Celgene Co. has a 52-week low of $86.55 and a 52-week high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. sell-side analysts predict that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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