Celgene Co. (NASDAQ:CELG) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 12,189,611 shares, a decline of 22.9% from the August 15th total of 15,805,908 shares. Based on an average daily volume of 4,273,167 shares, the short-interest ratio is currently 2.9 days. Currently, 1.7% of the company’s stock are short sold.

A number of equities research analysts have weighed in on the company. BidaskClub raised Celgene from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of Celgene in a research report on Tuesday, July 10th. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the company a “hold” rating in a research report on Thursday, May 24th. Mizuho reaffirmed a “buy” rating and set a $129.00 target price on shares of Celgene in a research report on Tuesday, July 31st. Finally, Argus lowered Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $121.85.

In other Celgene news, Director Ernest Mario sold 12,000 shares of Celgene stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the sale, the director now directly owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John H. Weiland bought 5,575 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were purchased at an average cost of $89.73 per share, with a total value of $500,244.75. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. increased its position in Celgene by 4.5% during the 2nd quarter. Johnson Financial Group Inc. now owns 13,100 shares of the biopharmaceutical company’s stock valued at $1,040,000 after buying an additional 567 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Celgene by 5.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 11,857 shares of the biopharmaceutical company’s stock valued at $942,000 after buying an additional 603 shares in the last quarter. Brick & Kyle Associates increased its position in Celgene by 5.9% during the 1st quarter. Brick & Kyle Associates now owns 11,290 shares of the biopharmaceutical company’s stock valued at $1,007,000 after buying an additional 625 shares in the last quarter. Wealth Advisors of Tampa Bay LLC increased its position in Celgene by 4.4% during the 1st quarter. Wealth Advisors of Tampa Bay LLC now owns 15,141 shares of the biopharmaceutical company’s stock valued at $1,352,000 after buying an additional 635 shares in the last quarter. Finally, Avestar Capital LLC increased its position in Celgene by 34.6% during the 1st quarter. Avestar Capital LLC now owns 2,511 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 645 shares in the last quarter. 73.11% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CELG opened at $87.17 on Friday. Celgene has a 1 year low of $74.13 and a 1 year high of $147.17. The stock has a market cap of $61.05 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.52 and a beta of 1.32. The company has a current ratio of 1.52, a quick ratio of 1.40 and a debt-to-equity ratio of 5.76.

Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company posted $1.82 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. research analysts expect that Celgene will post 7.64 EPS for the current fiscal year.

Celgene declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 24th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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