Burney Co. lifted its position in Celgene Co. (NASDAQ:CELG) by 99.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,321 shares of the biopharmaceutical company’s stock after acquiring an additional 46,099 shares during the quarter. Burney Co.’s holdings in Celgene were worth $8,710,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CELG. First Mercantile Trust Co. bought a new position in shares of Celgene in the 4th quarter worth approximately $48,000. Financial Gravity Companies Inc. purchased a new position in shares of Celgene in the fourth quarter valued at $516,000. SeaBridge Investment Advisors LLC grew its holdings in shares of Celgene by 225.7% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 13,353 shares of the biopharmaceutical company’s stock valued at $855,000 after purchasing an additional 9,253 shares in the last quarter. Alps Advisors Inc. purchased a new position in Celgene during the fourth quarter worth $1,388,000. Finally, Empire Life Investments Inc. boosted its stake in Celgene by 29.6% during the fourth quarter. Empire Life Investments Inc. now owns 421,087 shares of the biopharmaceutical company’s stock worth $26,987,000 after buying an additional 96,236 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.
Several research analysts have commented on CELG shares. Cantor Fitzgerald lowered shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective for the company. in a research note on Friday, April 5th. ValuEngine lowered shares of Celgene from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. BidaskClub lowered shares of Celgene from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Cowen started coverage on shares of Celgene in a research note on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective for the company. Finally, Mizuho reaffirmed a “buy” rating and set a $103.00 price objective on shares of Celgene in a research note on Thursday, May 16th. Eighteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Celgene presently has a consensus rating of “Hold” and an average price target of $95.56.
NASDAQ:CELG opened at $96.56 on Thursday. Celgene Co. has a twelve month low of $58.59 and a twelve month high of $97.07. The firm has a market cap of $67.68 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.10. Celgene had a return on equity of 106.69% and a net margin of 30.10%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Celgene Co. will post 9.85 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.
Featured Story: How do taxes affect a CDs total return?
Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).
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.