Kovack Advisors Inc. acquired a new stake in Celgene Co. (NASDAQ:CELG) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,072 shares of the biopharmaceutical company’s stock, valued at approximately $425,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Star Asset Management Inc. raised its stake in Celgene by 101.9% in the fourth quarter. North Star Asset Management Inc. now owns 3,269 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 1,650 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA raised its stake in Celgene by 2.1% in the fourth quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 68,911 shares of the biopharmaceutical company’s stock valued at $7,192,000 after buying an additional 1,430 shares in the last quarter. Highstreet Asset Management Inc. raised its stake in Celgene by 112.4% in the fourth quarter. Highstreet Asset Management Inc. now owns 23,063 shares of the biopharmaceutical company’s stock valued at $2,407,000 after buying an additional 12,204 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Celgene in the fourth quarter valued at $238,000. Finally, Iberiabank Corp raised its stake in Celgene by 41.9% in the fourth quarter. Iberiabank Corp now owns 40,168 shares of the biopharmaceutical company’s stock valued at $4,193,000 after buying an additional 11,859 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.
Shares of Celgene Co. (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 company has a market cap of $66,973.72, a PE ratio of 24.91, a P/E/G ratio of 0.63 and a beta of 1.58. Celgene Co. has a 12-month low of $86.55 and a 12-month 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 the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm earned $1.61 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. equities analysts forecast that Celgene Co. will post 7.66 EPS for the current year.
Celgene declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Mark J. Alles purchased 3,260 shares of Celgene stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total transaction of $877,177.50. Following 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. Over the last quarter, insiders have sold 31,870 shares of company stock valued at $3,028,416. Insiders own 0.95% of the company’s stock.
A number of research firms have weighed in on CELG. Vetr cut Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price target on the stock. in a research note on Monday, December 18th. Deutsche Bank began coverage on Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price target on the stock. Credit Suisse Group set a $128.00 price target on Celgene and gave the company a “buy” rating in a research note on Tuesday, December 12th. Piper Jaffray Companies restated a “hold” rating on shares of Celgene in a research note on Sunday, December 10th. Finally, Oppenheimer set a $166.00 price target on Celgene and gave the company a “buy” rating in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Celgene has a consensus rating of “Buy” and an average target price of $128.22.
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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