Alpine Group USVI LLC purchased a new stake in shares of Celgene Co. (NASDAQ:CELG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 101,066 shares of the biopharmaceutical company’s stock, valued at approximately $10,036,000. Celgene makes up 2.6% of Alpine Group USVI LLC’s investment portfolio, making the stock its 10th biggest position.
A number of other hedge funds have also made changes to their positions in the business. Hancock Whitney Corp grew its stake in shares of Celgene by 2.9% in the 1st quarter. Hancock Whitney Corp now owns 9,212 shares of the biopharmaceutical company’s stock worth $869,000 after acquiring an additional 262 shares in the last quarter. OZ Management LP bought a new stake in shares of Celgene in the 1st quarter worth $157,997,000. Vivaldi Asset Management LLC bought a new stake in shares of Celgene in the 1st quarter worth $17,359,000. Burney Co. grew its stake in shares of Celgene by 99.7% in the 1st quarter. Burney Co. now owns 92,321 shares of the biopharmaceutical company’s stock worth $8,710,000 after acquiring an additional 46,099 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its stake in shares of Celgene by 70.9% in the 1st quarter. Wealthfront Advisers LLC now owns 26,067 shares of the biopharmaceutical company’s stock worth $2,459,000 after acquiring an additional 10,817 shares in the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.
Several analysts have recently issued reports on CELG shares. Cowen reiterated a “hold” rating and issued a $102.00 target price on shares of Celgene in a research note on Tuesday, July 30th. ValuEngine downgraded shares of Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Mizuho downgraded shares of Celgene from a “buy” rating to a “neutral” rating and cut their price target for the stock from $103.00 to $100.00 in a report on Monday, August 19th. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target on the stock in a report on Tuesday, July 23rd. Finally, BidaskClub raised shares of Celgene from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $94.60.
In other Celgene news, insider Terrie Curran sold 11,338 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $98.27, for a total transaction of $1,114,185.26. Following the sale, the insider now directly owns 13,493 shares of the company’s stock, valued at $1,325,957.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.
Shares of NASDAQ:CELG traded up $0.72 during midday trading on Friday, reaching $100.53. The company had a trading volume of 311,274 shares, compared to its average volume of 3,736,602. The company’s 50 day moving average price is $97.96 and its 200 day moving average price is $95.03. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 1.97. The stock has a market cap of $70.08 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.50 and a beta of 1.42. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $100.42.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.17. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 earnings per share. Research analysts forecast that Celgene Co. will post 9.96 EPS for the current fiscal 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.
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