Cypress Asset Management Inc. TX Reduces Stake in Celgene Co. (CELG)

Cypress Asset Management Inc. TX lowered its stake in shares of Celgene Co. (NASDAQ:CELG) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,300 shares of the biopharmaceutical company’s stock after selling 925 shares during the period. Cypress Asset Management Inc. TX’s holdings in Celgene were worth $1,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 400 shares during the last quarter. Guidant Wealth Advisors acquired a new stake in shares of Celgene in the 3rd quarter worth about $119,000. Motco raised its holdings in shares of Celgene by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 159 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of Celgene in the 2nd quarter worth about $129,000. Hedge funds and other institutional investors own 79.85% of the company’s stock.

A number of equities research analysts recently weighed in on CELG shares. Robert W. Baird restated a “buy” rating and issued a $162.00 target price on shares of Celgene in a report on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Celgene in a research report on Tuesday, September 26th. Morgan Stanley downgraded shares of Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Thursday, October 5th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Celgene in a research report on Thursday, October 5th. Finally, Vetr raised shares of Celgene from a “hold” rating to a “buy” rating and set a $146.58 price objective for the company in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Celgene has an average rating of “Buy” and an average price target of $130.95.

Celgene Co. (NASDAQ:CELG) opened at $102.02 on Thursday. Celgene Co. has a 52-week low of $94.55 and a 52-week high of $147.17. The firm has a market cap of $82,526.56, a P/E ratio of 24.23, a PEG ratio of 0.67 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the firm earned $1.58 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. sell-side analysts anticipate that Celgene Co. will post 6.7 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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