MAI Capital Management trimmed its holdings in shares of Celgene Co. (NASDAQ:CELG) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,256 shares of the biopharmaceutical company’s stock after selling 650 shares during the period. MAI Capital Management’s holdings in Celgene were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. Archford Capital Strategies LLC bought a new stake in shares of Celgene in the 1st quarter valued at about $124,000. Ayalon Holdings Ltd. bought a new stake in shares of Celgene in the 2nd quarter valued at about $100,000. Acropolis Investment Management LLC bought a new stake in shares of Celgene in the 2nd quarter valued at about $112,000. Sun Life Financial INC boosted its holdings in shares of Celgene by 528.9% in the 2nd quarter. Sun Life Financial INC now owns 1,918 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 1,613 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC bought a new stake in shares of Celgene in the 1st quarter valued at about $281,000. Institutional investors own 73.11% of the company’s stock.
In related news, Director Ernest Mario sold 12,000 shares of Celgene stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $92.32, for a total value of $1,107,840.00. Following the sale, the director now owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John H. Weiland purchased 5,575 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was bought at an average cost of $89.73 per share, for a total transaction of $500,244.75. The disclosure for this purchase can be found here. 0.39% of the stock is owned by company insiders.
Several equities analysts recently commented on CELG shares. Standpoint Research raised shares of Celgene from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. BidaskClub lowered shares of Celgene from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Cantor Fitzgerald started coverage on shares of Celgene in a research report on Monday, October 1st. They issued an “overweight” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Celgene in a research report on Thursday. Finally, Morgan Stanley increased their price objective on shares of Celgene from $90.00 to $91.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.42.
CELG traded up $1.87 during trading on Friday, reaching $82.58. 4,645,919 shares of the company’s stock were exchanged, compared to its average volume of 6,501,751. Celgene Co. has a 1 year low of $74.13 and a 1 year high of $139.72. The company has a current ratio of 1.52, a quick ratio of 1.40 and a debt-to-equity ratio of 5.76. The firm has a market capitalization of $62.94 billion, a PE ratio of 12.07, a P/E/G ratio of 0.54 and a beta of 1.30.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Celgene had a net margin of 19.81% and a return on equity of 87.28%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. As a group, analysts predict that Celgene Co. will post 7.64 EPS for the current fiscal year.
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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