Renaissance Technologies LLC Sells 2,576,000 Shares of Celgene Co. (CELG)

Renaissance Technologies LLC cut its stake in Celgene Co. (NASDAQ:CELG) by 62.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,553,438 shares of the biopharmaceutical company’s stock after selling 2,576,000 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of Celgene worth $139,017,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. HL Financial Services LLC increased its stake in shares of Celgene by 20.5% in the 3rd quarter. HL Financial Services LLC now owns 4,213 shares of the biopharmaceutical company’s stock worth $377,000 after acquiring an additional 717 shares during the last quarter. FMR LLC increased its stake in shares of Celgene by 26.0% in the 3rd quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after acquiring an additional 2,119,257 shares during the last quarter. ING Groep NV increased its stake in shares of Celgene by 116.3% in the 3rd quarter. ING Groep NV now owns 203,229 shares of the biopharmaceutical company’s stock worth $18,187,000 after acquiring an additional 109,292 shares during the last quarter. Bangor Savings Bank increased its stake in shares of Celgene by 21.2% in the 3rd quarter. Bangor Savings Bank now owns 18,049 shares of the biopharmaceutical company’s stock worth $1,615,000 after acquiring an additional 3,157 shares during the last quarter. Finally, Korea Investment CORP increased its stake in shares of Celgene by 1.5% in the 2nd quarter. Korea Investment CORP now owns 674,446 shares of the biopharmaceutical company’s stock worth $53,565,000 after acquiring an additional 10,000 shares during the last quarter. 72.87% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on CELG. Cantor Fitzgerald began coverage on Celgene in a research note on Monday, October 1st. They issued an “overweight” rating and a $100.00 target price for the company. BidaskClub raised Celgene from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Celgene in a research note on Thursday, October 11th. Finally, Cann reaffirmed a “buy” rating on shares of Celgene in a research note on Monday, December 3rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $116.99.

NASDAQ CELG opened at $70.08 on Friday. The firm has a market cap of $50.91 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.45 and a beta of 1.50. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99. Celgene Co. has a twelve month low of $66.62 and a twelve month high of $110.81.

Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.27. Celgene had a return on equity of 108.76% and a net margin of 19.64%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. As a group, equities analysts expect that Celgene Co. will post 7.45 earnings per share for the current year.

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Celgene Profile

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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