Eagle Asset Management Inc. lowered its stake in shares of Celgene Co. (NASDAQ:CELG) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,206 shares of the biopharmaceutical company’s stock after selling 2,495 shares during the period. Eagle Asset Management Inc.’s holdings in Celgene were worth $15,401,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of CELG. Arcadia Investment Management Corp MI boosted its stake in shares of Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the period. Robecosam AG acquired a new stake in shares of Celgene during the 3rd quarter valued at $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene during the 3rd quarter valued at $119,000. Capital Bank & Trust Co boosted its stake in shares of Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the period. Finally, Fusion Family Wealth LLC acquired a new stake in shares of Celgene during the 4th quarter valued at $136,000. 78.60% of the stock is owned by institutional investors.
In other news, Director Ernest Mario sold 13,370 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark J. Alles acquired 3,260 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the acquisition, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 41,120 shares of company stock worth $3,879,509. Insiders own 0.95% of the company’s stock.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business earned $1.61 EPS. The business’s revenue was up 16.9% on a year-over-year basis. equities analysts expect that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has initiated a stock repurchase program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Celgene in a research note on Wednesday, March 21st. They set an “overweight” rating and a $110.00 target price for the company. BidaskClub lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Leerink Swann reissued a “buy” rating and set a $120.00 target price on shares of Celgene in a research note on Friday, December 22nd. BTIG Research reissued a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. Finally, UBS set a $106.00 price objective on shares of Celgene and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given 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 an average rating of “Buy” and an average price target of $127.78.
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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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