DAVENPORT & Co LLC cut its position in Celgene Co. (NASDAQ:CELG) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,455 shares of the biopharmaceutical company’s stock after selling 3,893 shares during the quarter. DAVENPORT & Co LLC’s holdings in Celgene were worth $8,062,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Bruderman Asset Management LLC purchased a new stake in shares of Celgene in the fourth quarter valued at about $25,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Celgene in the fourth quarter valued at about $25,000. Athena Capital Advisors LLC purchased a new stake in shares of Celgene in the fourth quarter valued at about $27,000. Liberty Wealth Management LLC purchased a new stake in shares of Celgene in the fourth quarter valued at about $29,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Celgene in the fourth quarter valued at about $32,000. Institutional investors own 72.01% of the company’s stock.
A number of analysts recently issued reports on CELG shares. Jefferies Financial Group downgraded shares of Celgene from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a report on Friday, February 1st. William Blair restated a “buy” rating on shares of Celgene in a report on Thursday, February 28th. Cantor Fitzgerald downgraded shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective for the company. in a report on Friday, April 5th. Cowen started coverage on shares of Celgene in a report on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective for the company. Finally, Sanford C. Bernstein downgraded shares of Celgene from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. Twenty equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $95.96.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.10. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.01 billion. Celgene had a net margin of 30.10% and a return on equity of 106.69%. Celgene’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $2.05 earnings per share. Sell-side analysts predict that Celgene Co. will post 9.85 EPS for the current year.
In related news, Director Ernest Mario bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were acquired at an average cost of $89.99 per share, with a total value of $179,980.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company’s stock.
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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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