Celgene Co. (CELG) Position Lowered by Markston International LLC

Markston International LLC lowered its stake in Celgene Co. (NASDAQ:CELG) by 8.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,578 shares of the biopharmaceutical company’s stock after selling 5,825 shares during the period. Markston International LLC’s holdings in Celgene were worth $5,332,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CELG. Ayalon Holdings Ltd. bought a new position in shares of Celgene in the second quarter worth $100,000. Atlantic Trust LLC bought a new position in shares of Celgene in the second quarter worth $101,000. Acropolis Investment Management LLC bought a new position in shares of Celgene in the second quarter worth $112,000. Moneta Group Investment Advisors LLC increased its position in shares of Celgene by 2,688.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 9,921 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Celgene in the third quarter worth $132,000. Institutional investors own 73.58% of the company’s stock.

A number of brokerages recently commented on CELG. BidaskClub cut Celgene from a “sell” rating to a “strong sell” rating in a research report on Saturday. Morgan Stanley raised their price target on Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Leerink Swann set a $112.00 price target on Celgene and gave the stock a “hold” rating in a research report on Friday, October 26th. SunTrust Banks reiterated a “hold” rating and issued a $101.00 target price on shares of Celgene in a research report on Friday, July 27th. Finally, UBS Group set a $94.00 target price on Celgene and gave the company a “buy” rating in a research report on Saturday, October 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $117.91.

NASDAQ:CELG opened at $74.02 on Friday. The stock has a market cap of $52.77 billion, a PE ratio of 10.82, a PEG 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 Co. has a 1-year low of $70.09 and a 1-year high of $110.81.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.27. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. As a group, sell-side analysts anticipate that Celgene Co. will post 7.45 earnings per share for the current year.

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About Celgene

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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