PVG Asset Management Corp Takes Position in Celgene Co. (CELG)

PVG Asset Management Corp purchased a new position in shares of Celgene Co. (NASDAQ:CELG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,417 shares of the biopharmaceutical company’s stock, valued at approximately $283,000.

A number of other large investors have also recently added to or reduced their stakes in CELG. Oregon Public Employees Retirement Fund increased its holdings in Celgene by 9,691.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 16,327,522 shares during the last quarter. Parnassus Investments CA grew its holdings in shares of Celgene by 1,766.7% during the fourth quarter. Parnassus Investments CA now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $179,452,000 after purchasing an additional 2,650,000 shares during the last quarter. FMR LLC grew its holdings in shares of Celgene by 26.0% during the third quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after purchasing an additional 2,119,257 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of Celgene by 13.2% during the third quarter. Edgewood Management LLC now owns 15,757,525 shares of the biopharmaceutical company’s stock worth $1,410,141,000 after purchasing an additional 1,832,981 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Celgene by 2.8% during the fourth quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock worth $3,438,486,000 after purchasing an additional 1,459,100 shares during the last quarter. Institutional investors own 74.92% of the company’s stock.

Shares of CELG traded up $0.96 during mid-day trading on Monday, reaching $95.10. 6,472,050 shares of the company’s stock were exchanged, compared to its average volume of 11,861,181. The company has a debt-to-equity ratio of 3.21, a current ratio of 2.23 and a quick ratio of 2.12. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $95.30. The stock has a market cap of $66.18 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.07. Celgene had a net margin of 26.48% and a return on equity of 114.66%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period last year, the company posted $2.00 EPS. On average, equities analysts expect that Celgene Co. will post 10.01 earnings per share for the current fiscal year.

Several brokerages have issued reports on CELG. Mizuho set a $103.00 price objective on Celgene and gave the stock a “buy” rating in a report on Friday, April 5th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $100.00 price objective on shares of Celgene in a report on Thursday, January 3rd. Goldman Sachs Group upgraded shares of Celgene from a “sell” rating to a “neutral” rating and increased their target price for the stock from $71.00 to $88.00 in a research note on Thursday, January 3rd. Jefferies Financial Group downgraded shares of Celgene from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research note on Friday, February 1st. Finally, William Blair downgraded shares of Celgene from an “outperform” rating to a “market perform” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $99.41.

In other news, Director Ernest Mario bought 2,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was purchased at an average cost of $89.99 per share, with a total value of $179,980.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James J. Loughlin sold 23,466 shares of Celgene stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $87.29, for a total transaction of $2,048,347.14. Following the completion of the sale, the director now directly owns 62,102 shares of the company’s stock, valued at $5,420,883.58. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

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Celgene Company Profile

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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