Edge Wealth Management LLC Reduces Position in Celgene Co. (NASDAQ:CELG)

Edge Wealth Management LLC reduced its holdings in Celgene Co. (NASDAQ:CELG) by 51.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 756 shares of the biopharmaceutical company’s stock after selling 810 shares during the quarter. Edge Wealth Management LLC’s holdings in Celgene were worth $71,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in Celgene in the 3rd quarter worth approximately $527,000. LPL Financial LLC boosted its stake in Celgene by 11.1% during the 3rd quarter. LPL Financial LLC now owns 215,822 shares of the biopharmaceutical company’s stock valued at $19,314,000 after purchasing an additional 21,553 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Celgene by 4.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 26,854 shares of the biopharmaceutical company’s stock valued at $2,403,000 after purchasing an additional 1,036 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Celgene during the 3rd quarter valued at $59,974,000. Finally, HBK Sorce Advisory LLC boosted its stake in Celgene by 15.6% during the 3rd quarter. HBK Sorce Advisory LLC now owns 9,028 shares of the biopharmaceutical company’s stock valued at $808,000 after purchasing an additional 1,220 shares in the last quarter. Hedge funds and other institutional investors own 74.27% of the company’s stock.

A number of equities research analysts have recently commented on CELG shares. ValuEngine upgraded Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a report on Friday, January 4th. Robert W. Baird upgraded Celgene from a “neutral” rating to an “outperform” rating and set a $92.00 target price for the company in a report on Friday, January 4th. Zacks Investment Research raised shares of Celgene from a “hold” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research note on Wednesday, January 23rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $100.00 price target on shares of Celgene in a research note on Thursday, January 31st. Twenty analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $99.13.

In related news, Director James J. Loughlin sold 23,466 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the sale, the director now directly owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernest Mario purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were acquired at an average cost of $89.99 per share, for a total transaction of $179,980.00. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.

Shares of Celgene stock traded up $1.67 during midday trading on Friday, reaching $96.88. The company had a trading volume of 5,678,882 shares, compared to its average volume of 10,998,028. The firm has a market cap of $68.33 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.43 and a beta of 1.68. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $97.07. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.78 and a quick ratio of 2.66.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.10. The company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. On average, sell-side analysts expect that Celgene Co. will post 9.85 EPS for the current year.

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Celgene 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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