Polaris Greystone Financial Group LLC increased its stake in shares of Celgene Co. (NASDAQ:CELG) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,154 shares of the biopharmaceutical company’s stock after acquiring an additional 4,299 shares during the quarter. Polaris Greystone Financial Group LLC’s holdings in Celgene were worth $1,999,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of CELG. Arcadia Investment Management Corp MI lifted its stake in shares of Celgene by 118.7% in the third 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 in the last quarter. Robecosam AG bought a new position in shares of Celgene in the third quarter valued at $114,000. Guidant Wealth Advisors bought a new position in shares of Celgene in the third quarter valued at $119,000. American Beacon Advisors Inc. bought a new position in shares of Celgene in the fourth quarter valued at $120,000. Finally, Capital Bank & Trust Co lifted its stake in shares of Celgene by 166.8% in the third 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 in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on CELG shares. Atlantic Securities raised shares of Celgene from a “neutral” rating to an “overweight” rating in a research note on Friday, December 8th. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the company a “hold” rating in a research note on Monday, December 11th. Piper Jaffray reaffirmed a “hold” rating on shares of Celgene in a research note on Sunday, December 10th. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Deutsche Bank started coverage on shares of Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $127.68.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. equities research analysts anticipate that Celgene Co. will post 7.66 EPS for the current year.
Celgene declared that its board has authorized a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Ernest Mario sold 13,370 shares of the firm’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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $92.01, for a total transaction of $851,092.50. The disclosure for this sale can be found here. Insiders have sold 41,120 shares of company stock valued at $3,879,509 in the last 90 days. 0.95% of the stock is currently owned by corporate insiders.
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Celgene Company Profile
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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