Highland Capital Management LLC Boosts Holdings in Celgene Co. (CELG)

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Highland Capital Management LLC boosted its position in Celgene Co. (NASDAQ:CELG) by 5.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 80,584 shares of the biopharmaceutical company’s stock after purchasing an additional 4,207 shares during the period. Highland Capital Management LLC’s holdings in Celgene were worth $7,211,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Celgene in the first quarter worth about $767,000. Moors & Cabot Inc. lifted its position in shares of Celgene by 34.9% in the first quarter. Moors & Cabot Inc. now owns 7,392 shares of the biopharmaceutical company’s stock worth $659,000 after buying an additional 1,914 shares during the last quarter. CIBC World Markets Inc. lifted its position in shares of Celgene by 16.2% during the 1st quarter. CIBC World Markets Inc. now owns 160,349 shares of the biopharmaceutical company’s stock worth $14,305,000 after purchasing an additional 22,406 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Celgene during the 1st quarter worth about $477,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Celgene by 0.8% during the 1st quarter. Handelsbanken Fonder AB now owns 477,449 shares of the biopharmaceutical company’s stock worth $42,593,000 after purchasing an additional 4,000 shares during the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on CELG. BidaskClub cut Celgene from a “sell” rating to a “strong sell” rating in a research report on Saturday. Morgan Stanley boosted their price objective on Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. SunTrust Banks reissued a “hold” rating and set a $101.00 price objective on shares of Celgene in a research report on Friday, July 27th. UBS Group set a $94.00 price objective on Celgene and gave the stock a “buy” rating in a research report on Saturday, October 27th. Finally, Leerink Swann set a $112.00 price objective on Celgene and gave the stock a “hold” rating in a research report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $117.91.

Shares of CELG stock traded down $1.21 during trading hours on Friday, hitting $74.02. The company had a trading volume of 4,115,649 shares, compared to its average volume of 6,144,803. Celgene Co. has a 12 month low of $70.09 and a 12 month high of $110.81. The firm has a market cap of $52.77 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.47 and a beta of 1.53. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.27. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. Sell-side analysts forecast that Celgene Co. will post 7.45 EPS for the current year.

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Celgene Profile

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of 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, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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