Sandy Spring Bank lowered its holdings in shares of Celgene Co. (NASDAQ:CELG) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,360 shares of the biopharmaceutical company’s stock after selling 1,943 shares during the quarter. Sandy Spring Bank’s holdings in Celgene were worth $4,107,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI raised its position in shares of Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the period. Thompson Davis & CO. Inc. raised its position in shares of Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares during the period. Robecosam AG acquired a new stake in shares of Celgene during the third quarter worth about $114,000. Capital Bank & Trust Co raised its position in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the period. Finally, Guidant Wealth Advisors acquired a new stake in shares of Celgene during the third quarter worth about $119,000. 77.71% of the stock is currently owned by institutional investors.
Celgene Co. (NASDAQ CELG) opened at $92.56 on Friday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The firm has a market capitalization of $68,590.90, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.64 and a beta of 1.58. Celgene Co. has a one year low of $86.55 and a one year high of $147.17.
Celgene declared that its Board of Directors has approved a stock buyback program on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the completion of the transaction, the director now directly owns 94,801 shares in the company, valued at approximately $9,099,947.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark J. Alles bought 3,260 shares of Celgene stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Insiders have sold a total of 31,870 shares of company stock valued at $3,028,416 over the last quarter. 0.95% of the stock is currently owned by corporate insiders.
CELG has been the topic of a number of research analyst reports. Oppenheimer set a $166.00 price target on Celgene and gave the stock a “buy” rating in a research report on Thursday, November 16th. Canaccord Genuity set a $140.00 target price on Celgene and gave the company a “buy” rating in a research report on Thursday, November 16th. BMO Capital Markets lifted their target price on Celgene from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. TheStreet lowered Celgene from a “b-” rating to a “c+” rating in a research report on Friday, November 17th. Finally, Cann reissued a “buy” rating and issued a $166.00 target price on shares of Celgene in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $128.22.
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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.
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