Cadence Capital Management LLC lifted its position in Celgene Co. (NASDAQ:CELG) by 49.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,299 shares of the biopharmaceutical company’s stock after buying an additional 6,428 shares during the period. Cadence Capital Management LLC’s holdings in Celgene were worth $1,727,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in shares of Celgene by 4.1% during the 2nd quarter. Fisher Asset Management LLC now owns 322,086 shares of the biopharmaceutical company’s stock valued at $25,580,000 after purchasing an additional 12,743 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Celgene by 13.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 209,138 shares of the biopharmaceutical company’s stock valued at $16,610,000 after purchasing an additional 24,765 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Celgene during the 2nd quarter valued at about $282,000. Daiwa SB Investments Ltd. bought a new stake in shares of Celgene during the 2nd quarter valued at about $631,000. Finally, Acropolis Investment Management LLC bought a new stake in shares of Celgene during the 2nd quarter valued at about $112,000. 73.58% of the stock is currently owned by institutional investors.
NASDAQ:CELG opened at $74.02 on Friday. Celgene Co. has a one year low of $70.09 and a one year high of $110.81. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.99 and a current ratio of 2.13. The stock has a market cap of $52.77 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.47 and a beta of 1.53.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.27. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Celgene had a net margin of 19.64% and a return on equity of 108.76%. Research analysts anticipate that Celgene Co. will post 7.45 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Saturday. Mizuho reaffirmed a “buy” rating and set a $129.00 target price on shares of Celgene in a research note on Tuesday, July 31st. UBS Group set a $94.00 target price on shares of Celgene and gave the company a “buy” rating in a research note on Saturday, October 27th. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 target price on the stock in a research note on Wednesday, August 1st. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $101.00 target price on shares of Celgene in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Celgene has an average rating of “Buy” and an average price target of $117.91.
COPYRIGHT VIOLATION WARNING: “Cadence Capital Management LLC Boosts Stake in Celgene Co. (CELG)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2018/11/10/cadence-capital-management-llc-boosts-stake-in-celgene-co-celg.html.
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.
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.