Celgene Co. (CELG) Shares Sold by Friedberg Investment Management
Friedberg Investment Management lessened its position in Celgene Co. (NASDAQ:CELG) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,160 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Friedberg Investment Management’s holdings in Celgene were worth $2,748,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Vanguard Group Inc. increased its holdings in Celgene by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after purchasing an additional 1,610,056 shares in the last quarter. State Street Corp increased its holdings in Celgene by 2.3% in the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after purchasing an additional 723,844 shares in the last quarter. Jennison Associates LLC increased its holdings in Celgene by 1.2% in the 2nd quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock worth $1,742,301,000 after purchasing an additional 156,864 shares in the last quarter. Finally, FMR LLC increased its holdings in Celgene by 5.9% in the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after purchasing an additional 697,250 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CELG. William Blair reaffirmed an “outperform” rating on shares of Celgene in a report on Friday, October 20th. Leerink Swann reissued a “buy” rating and issued a $156.00 price target on shares of Celgene in a research note on Friday, October 20th. Piper Jaffray Companies reissued a “neutral” rating and issued a $133.00 price target on shares of Celgene in a research note on Monday, October 23rd. Wells Fargo & Company cut Celgene from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. Finally, Vetr cut Celgene from a “buy” rating to a “hold” rating and set a $145.17 price target for the company. in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Celgene has an average rating of “Buy” and a consensus target price of $139.57.
In other news, insider Terrie Curran sold 1,727 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at $564,768.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the completion of the sale, the director now directly owns 85,551 shares of the company’s stock, valued at $12,110,599.56. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.
Celgene Co. (CELG) opened at $106.09 on Friday. The stock has a market capitalization of $80,881.07, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.79 and a beta of 1.78. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. Celgene Co. has a fifty-two week low of $94.55 and a fifty-two week high of $147.17.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.04. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. equities analysts expect that Celgene Co. will post 6.67 EPS for the current year.
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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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