Parallel Advisors LLC Buys New Stake in Celgene Co. (CELG)

Parallel Advisors LLC bought a new position in Celgene Co. (NASDAQ:CELG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,819 shares of the biopharmaceutical company’s stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Financial Corp IN increased its position in Celgene by 30.9% in the third quarter. First Financial Corp IN now owns 967 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 228 shares in the last quarter. Barnett & Company Inc. increased its position in Celgene by 18.3% in the third quarter. Barnett & Company Inc. now owns 1,130 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 175 shares in the last quarter. Jolley Asset Management LLC increased its position in Celgene by 2.1% in the third quarter. Jolley Asset Management LLC now owns 1,240 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co. increased its position in Celgene by 2.2% in the third quarter. Smithfield Trust Co. now owns 1,310 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 28 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its position in Celgene by 2.2% in the third quarter. Integrated Investment Consultants LLC now owns 1,369 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 30 shares in the last quarter. 77.68% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

Celgene Co. (NASDAQ:CELG) opened at 126.51 on Tuesday. Celgene Co. has a one year low of $94.42 and a one year high of $127.64. The company has a 50 day moving average price of $120.08 and a 200-day moving average price of $113.41. The company has a market capitalization of $98.42 billion, a PE ratio of 50.81 and a beta of 1.74.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, January 26th. The biopharmaceutical company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.02. Celgene had a return on equity of 77.95% and a net margin of 17.80%. The firm earned $2.98 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. Analysts expect that Celgene Co. will post $7.22 EPS for the current fiscal year.

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Several research firms have recently issued reports on CELG. Leerink Swann reaffirmed a “market perform” rating on shares of Celgene in a research note on Monday. Vetr raised Celgene from a “hold” rating to a “buy” rating and set a $129.47 price objective for the company in a research note on Monday, November 21st. Cann reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of Celgene in a research note on Thursday, March 2nd. Oppenheimer Holdings Inc. set a $148.00 price objective on Celgene and gave the company a “buy” rating in a research note on Monday, March 6th. Finally, Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a research note on Thursday, March 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $139.50.

In other Celgene news, insider Rupert Vessey sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $124.42, for a total value of $497,680.00. Following the completion of the sale, the insider now owns 778 shares in the company, valued at $96,798.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

About Celgene

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

5 Day Chart for NASDAQ:CELG

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