Essex Financial Services Inc. decreased its stake in shares of Celgene Co. (NASDAQ:CELG) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,215 shares of the biopharmaceutical company’s stock after selling 1,872 shares during the period. Essex Financial Services Inc.’s holdings in Celgene were worth $1,709,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CELG. Thomasville National Bank raised its holdings in shares of Celgene by 1.1% during the second quarter. Thomasville National Bank now owns 32,802 shares of the biopharmaceutical company’s stock valued at $3,032,000 after buying an additional 365 shares during the last quarter. Syquant Capital Sas bought a new stake in shares of Celgene during the second quarter valued at approximately $35,118,000. WINTON GROUP Ltd raised its holdings in shares of Celgene by 50.1% during the second quarter. WINTON GROUP Ltd now owns 196,768 shares of the biopharmaceutical company’s stock valued at $18,189,000 after buying an additional 65,656 shares during the last quarter. Calton & Associates Inc. raised its holdings in shares of Celgene by 9.5% during the second quarter. Calton & Associates Inc. now owns 5,277 shares of the biopharmaceutical company’s stock valued at $488,000 after buying an additional 456 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Celgene during the second quarter valued at approximately $62,000. 72.31% of the stock is owned by institutional investors.
Shares of NASDAQ CELG traded up $0.54 during mid-day trading on Friday, reaching $109.54. 5,706,800 shares of the company traded hands, compared to its average volume of 6,764,924. Celgene Co. has a fifty-two week low of $58.59 and a fifty-two week high of $109.75. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.89 and a quick ratio of 2.80. The firm has a market cap of $76.64 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41. The stock has a fifty day simple moving average of $102.54 and a 200-day simple moving average of $96.76.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $2.99 EPS for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.29. Celgene had a net margin of 34.63% and a return on equity of 78.15%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts predict that Celgene Co. will post 10.7 EPS for the current fiscal year.
CELG has been the topic of a number of recent analyst reports. Wells Fargo & Co set a $110.00 price target on Celgene and gave the company a “hold” rating in a report on Friday, November 1st. Cowen reaffirmed a “hold” rating and set a $102.00 price target on shares of Celgene in a report on Tuesday, July 30th. ValuEngine cut Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised 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, Leerink Swann set a $115.00 price target on Celgene and gave the company a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Celgene presently has an average rating of “Hold” and an average price target of $97.31.
In related news, insider Terrie Curran sold 11,338 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 13,493 shares in the company, valued at $1,325,957.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by company insiders.
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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