Celgene Co. (CELG) Short Interest Down 21.1% in March

Celgene Co. (NASDAQ:CELG) was the recipient of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 14,608,028 shares, a decrease of 21.1% from the March 15th total of 18,510,597 shares. Based on an average trading volume of 11,064,155 shares, the days-to-cover ratio is presently 1.3 days. Approximately 2.1% of the shares of the stock are sold short.

Several analysts recently weighed in on CELG shares. Cantor Fitzgerald downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective for the company. in a research report on Friday, April 5th. ValuEngine downgraded Celgene from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. BidaskClub downgraded Celgene from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Cowen started coverage on Celgene in a research report on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective for the company. Finally, Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Twenty research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Celgene presently has a consensus rating of “Hold” and a consensus target price of $99.13.

In related news, Director Ernest Mario bought 2,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was purchased at an average cost of $89.99 per share, for a total transaction of $179,980.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James J. Loughlin sold 23,466 shares of the company’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 owns 62,102 shares of the company’s stock, valued at $5,420,883.58. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Several hedge funds have recently modified their holdings of CELG. Bruderman Asset Management LLC acquired a new stake in Celgene during the fourth quarter worth approximately $25,000. Murphy Pohlad Asset Management LLC acquired a new stake in Celgene during the fourth quarter worth approximately $25,000. Athena Capital Advisors LLC acquired a new stake in Celgene during the fourth quarter worth approximately $27,000. Investors Research Corp acquired a new stake in Celgene during the first quarter worth approximately $28,000. Finally, Liberty Wealth Management LLC acquired a new stake in Celgene during the fourth quarter worth approximately $29,000. 74.27% of the stock is owned by institutional investors.

CELG traded up $1.67 on Friday, reaching $96.88. The stock had a trading volume of 5,678,882 shares, compared to its average volume of 6,932,295. Celgene has a fifty-two week low of $58.59 and a fifty-two week high of $97.07. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42. The stock has a market cap of $68.33 billion, a PE ratio of 12.73, a PEG ratio of 0.44 and a beta of 1.68.

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

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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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