Bray Capital Advisors reduced its holdings in shares of Celgene Co. (NASDAQ:CELG) by 26.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,331 shares of the biopharmaceutical company’s stock after selling 2,654 shares during the period. Bray Capital Advisors’ holdings in Celgene were worth $765,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. lifted its stake in 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 last quarter. Arcadia Investment Management Corp MI lifted its stake in 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 last quarter. Robecosam AG bought a new position in Celgene during the third quarter worth $114,000. Guidant Wealth Advisors bought a new position in Celgene during the third quarter worth $119,000. Finally, Capital Bank & Trust Co lifted its stake in 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 last quarter. Institutional investors own 77.71% of the company’s stock.
CELG has been the topic of several research analyst reports. Canaccord Genuity set a $140.00 price objective on Celgene and gave the stock a “buy” rating in a research note on Thursday, November 16th. Oppenheimer set a $166.00 price objective on Celgene and gave the stock a “buy” rating in a research note on Thursday, November 16th. Cann restated a “buy” rating and set a $166.00 price objective on shares of Celgene in a research note on Wednesday, November 22nd. Credit Suisse Group set a $128.00 price objective on Celgene and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Vetr cut Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price objective on the stock. in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene currently has an average rating of “Buy” and a consensus target price of $128.22.
Celgene Co. (NASDAQ:CELG) opened at $92.56 on Friday. The company has a market capitalization of $70,660.00, a price-to-earnings ratio of 17.63, a PEG ratio of 0.64 and a beta of 1.58. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene Co. has a fifty-two week low of $86.55 and a fifty-two week high of $147.17.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the company earned $1.61 earnings per share. sell-side analysts predict that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene declared that its board has initiated a share repurchase program on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
ILLEGAL ACTIVITY WARNING: This news story was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/3254718/celgene-co-celg-shares-sold-by-bray-capital-advisors.html.
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.
Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.