Majedie Asset Management Ltd boosted its stake in shares of Celgene Co. (NASDAQ:CELG) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,994 shares of the biopharmaceutical company’s stock after acquiring an additional 4,313 shares during the period. Majedie Asset Management Ltd’s holdings in Celgene were worth $3,965,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Aries Wealth Management acquired a new stake in shares of Celgene in the 4th quarter valued at $588,000. Allegis Investment Advisors LLC boosted its holdings in shares of Celgene by 4.5% in the 4th quarter. Allegis Investment Advisors LLC now owns 24,635 shares of the biopharmaceutical company’s stock valued at $2,571,000 after purchasing an additional 1,057 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Celgene by 12.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 106,447 shares of the biopharmaceutical company’s stock valued at $11,109,000 after purchasing an additional 11,592 shares in the last quarter. Clearwater Capital Partners LLC acquired a new stake in shares of Celgene in the 4th quarter valued at $295,000. Finally, Jacobi Capital Management LLC boosted its holdings in shares of Celgene by 43.3% in the 4th quarter. Jacobi Capital Management LLC now owns 5,130 shares of the biopharmaceutical company’s stock valued at $534,000 after purchasing an additional 1,551 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.
In other news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the transaction, the director now directly owns 94,801 shares of the company’s stock, valued at approximately $9,099,947.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 41,120 shares of company stock valued at $3,879,509. 0.95% of the stock is owned by corporate insiders.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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%. Celgene’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. equities research analysts anticipate that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has authorized a stock buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts have weighed in on CELG shares. Oppenheimer set a $166.00 target price on Celgene and gave the company a “buy” rating in a report on Thursday, November 16th. Canaccord Genuity set a $140.00 target price on Celgene and gave the company a “buy” rating in a report on Thursday, November 16th. BMO Capital Markets raised their target price on Celgene from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 17th. TheStreet downgraded Celgene from a “b-” rating to a “c+” rating in a report on Friday, November 17th. Finally, Cann reaffirmed a “buy” rating and issued a $166.00 target price on shares of Celgene in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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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