McIlrath & Eck LLC grew its position in Celgene Co. (NASDAQ:CELG) by 253.6% in the third quarter, HoldingsChannel.com reports. The firm owned 488 shares of the biopharmaceutical company’s stock after acquiring an additional 350 shares during the period. McIlrath & Eck LLC’s holdings in Celgene were worth $48,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CELG. Vanguard Group Inc. raised its stake in Celgene by 1.7% during the second quarter. Vanguard Group Inc. now owns 54,115,735 shares of the biopharmaceutical company’s stock valued at $5,002,460,000 after purchasing an additional 929,823 shares in the last quarter. Northern Trust Corp raised its stake in Celgene by 0.8% during the second quarter. Northern Trust Corp now owns 9,093,790 shares of the biopharmaceutical company’s stock valued at $840,630,000 after purchasing an additional 69,542 shares in the last quarter. Renaissance Technologies LLC raised its stake in Celgene by 85.7% during the second quarter. Renaissance Technologies LLC now owns 8,935,785 shares of the biopharmaceutical company’s stock valued at $826,024,000 after purchasing an additional 4,122,685 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Celgene by 707.3% in the second quarter. Nuveen Asset Management LLC now owns 4,476,814 shares of the biopharmaceutical company’s stock valued at $413,836,000 after acquiring an additional 3,922,247 shares during the period. Finally, TIG Advisors LLC raised its stake in shares of Celgene by 77.3% in the second quarter. TIG Advisors LLC now owns 3,583,622 shares of the biopharmaceutical company’s stock valued at $331,270,000 after acquiring an additional 1,562,004 shares during the period. Institutional investors and hedge funds own 72.31% of the company’s stock.
In related news, insider Terrie Curran sold 11,338 shares of Celgene stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $98.27, for a total value of $1,114,185.26. Following the sale, the insider now owns 13,493 shares of the company’s stock, valued at approximately $1,325,957.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.29. Celgene had a net margin of 34.63% and a return on equity of 78.15%. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts expect that Celgene Co. will post 10.7 EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Mizuho reissued a “hold” rating and issued a $100.00 target price on shares of Celgene in a research note on Sunday, October 20th. Wells Fargo & Co set a $110.00 target price on shares of Celgene and gave the company a “hold” rating in a research note on Friday, November 1st. Standpoint Research downgraded shares of Celgene from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Leerink Swann set a $115.00 price target on shares of Celgene and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Cowen restated a “hold” rating and issued a $102.00 price target on shares of Celgene in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.31.
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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