Edge Advisors LLC grew its stake in Celgene Co. (NASDAQ:CELG) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,481 shares of the biopharmaceutical company’s stock after purchasing an additional 1,858 shares during the period. Edge Advisors LLC’s holdings in Celgene were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Arcadia Investment Management Corp MI boosted its stake 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 valued at $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG acquired a new stake in shares of Celgene in the 3rd quarter valued at approximately $114,000. Capital Bank & Trust Co boosted its stake in shares of Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares in the last quarter. Guidant Wealth Advisors acquired a new stake in shares of Celgene in the 3rd quarter valued at approximately $119,000. Finally, Balentine LLC boosted its stake in shares of Celgene by 83.5% in the 2nd quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.
Celgene stock opened at $86.95 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. Celgene Co. has a 52-week low of $84.25 and a 52-week high of $147.17. The company has a market cap of $68,049.33, a price-to-earnings ratio of 12.71, a PEG ratio of 0.61 and a beta of 1.49.
Celgene declared that its board has initiated a stock repurchase program on Wednesday, February 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Celgene news, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $92.01, for a total transaction of $851,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark J. Alles purchased 3,260 shares of the stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $91.90 per share, with a total value 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 valued at $3,879,509. Company insiders own 0.95% of the company’s stock.
A number of research firms have recently weighed in on CELG. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research note on Monday, April 2nd. Leerink Swann set a $123.00 price target on shares of Celgene and gave the company a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research downgraded shares of Celgene from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Goldman Sachs cut their target price on shares of Celgene from $97.00 to $85.00 and set a “sell” rating on the stock in a research report on Monday, March 26th. Finally, JPMorgan Chase began coverage on shares of Celgene in a research report on Wednesday, March 21st. They set an “overweight” rating and a $110.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Celgene presently has an average rating of “Buy” and an average target price of $127.68.
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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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