Lederer & Associates Investment Counsel CA cut its position in Celgene Co. (NASDAQ:CELG) by 48.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,168 shares of the biopharmaceutical company’s stock after selling 8,742 shares during the quarter. Lederer & Associates Investment Counsel CA’s holdings in Celgene were worth $588,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Legacy Financial Advisors Inc. boosted its stake in shares of Celgene by 61.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 825 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 315 shares during the last quarter. Csenge Advisory Group bought a new position in Celgene during the third quarter worth $90,000. Global Trust Asset Management LLC boosted its stake in Celgene by 217.9% during the fourth quarter. Global Trust Asset Management LLC now owns 1,459 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,000 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Celgene during the third quarter worth $132,000. Finally, Legacy Bridge LLC bought a new position in Celgene during the fourth quarter worth $144,000. Institutional investors own 75.15% of the company’s stock.
Several research analysts have weighed in on the stock. Mizuho set a $117.00 price objective on shares of Celgene and gave the stock a “buy” rating in a report on Tuesday, October 30th. Cantor Fitzgerald reiterated a “buy” rating and issued a $100.00 target price on shares of Celgene in a report on Thursday, January 3rd. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 5th. JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a report on Thursday, October 25th. Finally, Goldman Sachs Group upgraded shares of Celgene from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $71.00 to $88.00 in a report on Thursday, January 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Celgene currently has a consensus rating of “Buy” and a consensus target price of $109.29.
In related news, Director James J. Loughlin sold 23,466 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the transaction, the director now owns 62,102 shares in the company, valued at approximately $5,420,883.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
Shares of NASDAQ CELG opened at $89.74 on Thursday. The firm has a market capitalization of $62.45 billion, a P/E ratio of 11.79, a PEG ratio of 0.41 and a beta of 1.72. Celgene Co. has a 52 week low of $58.59 and a 52 week high of $97.43. 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 (NASDAQ:CELG) last announced its earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 EPS for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.07. Celgene had a net margin of 26.48% and a return on equity of 125.35%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the business posted $2.00 EPS. On average, analysts anticipate that Celgene Co. will post 10.01 earnings per share for the current fiscal year.
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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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