Resources Management Corp CT ADV purchased a new position in Celgene Co. (NASDAQ:CELG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 36,229 shares of the biopharmaceutical company’s stock, valued at approximately $3,598,000.
Other hedge funds have also recently made changes to their positions in the company. United Bank acquired a new stake in shares of Celgene in the second quarter valued at approximately $553,000. Hartford Investment Management Co. raised its stake in Celgene by 0.9% in the 2nd quarter. Hartford Investment Management Co. now owns 77,425 shares of the biopharmaceutical company’s stock valued at $7,157,000 after acquiring an additional 703 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Celgene in the 2nd quarter valued at $1,584,000. Wetherby Asset Management Inc. lifted its holdings in Celgene by 12.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 14,439 shares of the biopharmaceutical company’s stock valued at $1,335,000 after purchasing an additional 1,624 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in Celgene during the 2nd quarter valued at $384,000. 71.66% of the stock is currently owned by institutional investors.
Several equities analysts have commented on the stock. Wells Fargo & Co set a $110.00 price objective on shares of Celgene and gave the company a “hold” rating in a report on Friday, November 1st. Leerink Swann set a $115.00 price objective on shares of Celgene and gave the company a “hold” rating in a research report on Friday, November 1st. Mizuho restated a “hold” rating and set a $100.00 target price on shares of Celgene in a research note on Sunday, October 20th. Standpoint Research downgraded shares of Celgene from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Robert W. Baird lowered shares of Celgene from an “outperform” rating to a “neutral” rating and set a $101.00 price target on the stock. in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the stock. Celgene has an average rating of “Hold” and a consensus target price of $97.31.
Shares of CELG stock remained flat at $$108.24 on Wednesday. 114,302 shares of the company traded hands, compared to its average volume of 6,772,216. Celgene Co. has a fifty-two week low of $58.59 and a fifty-two week high of $110.70. The company has a market cap of $77.04 billion, a P/E ratio of 14.22, a PEG ratio of 0.51 and a beta of 1.41. The business has a fifty day simple moving average of $107.09 and a 200 day simple moving average of $98.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.89 and a quick ratio of 2.80.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.29. Celgene had a net margin of 34.63% and a return on equity of 78.15%. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that Celgene Co. will post 10.7 earnings per share for the current year.
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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