Welch & Forbes LLC cut its stake in shares of Celgene Co. (NASDAQ:CELG) by 33.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,750 shares of the biopharmaceutical company’s stock after selling 6,857 shares during the period. Welch & Forbes LLC’s holdings in Celgene were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First PREMIER Bank acquired a new stake in shares of Celgene during the third quarter worth $26,000. Pacer Advisors Inc. lifted its holdings in shares of Celgene by 7.2% during the third quarter. Pacer Advisors Inc. now owns 176,109 shares of the biopharmaceutical company’s stock worth $17,488,000 after purchasing an additional 11,812 shares during the period. We Are One Seven LLC acquired a new stake in shares of Celgene during the third quarter worth $292,000. Artemis Investment Management LLP lifted its holdings in shares of Celgene by 2.4% during the third quarter. Artemis Investment Management LLP now owns 145,269 shares of the biopharmaceutical company’s stock worth $14,404,000 after purchasing an additional 3,395 shares during the period. Finally, Kohmann Bosshard Financial Services LLC lifted its holdings in shares of Celgene by 4.6% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 4,099 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 180 shares during the period. 72.41% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Terrie Curran sold 11,338 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $98.27, for a total value of $1,114,185.26. Following the completion of the transaction, the insider now owns 13,493 shares in the company, valued at $1,325,957.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

Several equities research analysts recently weighed in on CELG shares. ValuEngine downgraded Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Cowen reaffirmed a “hold” rating and set a $102.00 price target on shares of Celgene in a report on Tuesday, July 30th. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a report on Tuesday, July 23rd. Mizuho downgraded Celgene from a “buy” rating to a “neutral” rating and reduced their target price for the company from $103.00 to $100.00 in a report on Monday, August 19th. Finally, BidaskClub raised Celgene from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the company. Celgene currently has an average rating of “Hold” and an average target price of $94.60.

Celgene stock opened at $100.57 on Friday. Celgene Co. has a one year low of $58.59 and a one year high of $100.96. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.32 and a current ratio of 3.44. The business has a fifty day moving average of $98.06 and a two-hundred day moving average of $95.09. The company has a market cap of $70.74 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.51 and a beta of 1.42.

Celgene (NASDAQ:CELG) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.17. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company earned $2.16 earnings per share. Celgene’s quarterly revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Celgene Co. will post 9.96 EPS for the current year.

About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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