Chemical Bank trimmed its position in Celgene Co. (NASDAQ:CELG) by 4.9% during the first quarter, HoldingsChannel reports. The firm owned 6,951 shares of the biopharmaceutical company’s stock after selling 355 shares during the period. Chemical Bank’s holdings in Celgene were worth $656,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CELG. Morgan Stanley lifted its holdings in Celgene by 20.4% in the third quarter. Morgan Stanley now owns 3,236,323 shares of the biopharmaceutical company’s stock worth $289,620,000 after buying an additional 549,404 shares during the period. BKD Wealth Advisors LLC increased its stake in shares of Celgene by 18.6% during the fourth quarter. BKD Wealth Advisors LLC now owns 4,188 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 658 shares in the last quarter. Bowling Portfolio Management LLC bought a new position in shares of Celgene during the fourth quarter valued at approximately $3,181,000. Thompson Rubinstein Investment Management Inc. OR increased its stake in shares of Celgene by 9.6% during the fourth quarter. Thompson Rubinstein Investment Management Inc. OR now owns 44,310 shares of the biopharmaceutical company’s stock valued at $2,840,000 after purchasing an additional 3,863 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. increased its stake in shares of Celgene by 20.4% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 216,197 shares of the biopharmaceutical company’s stock valued at $13,856,000 after purchasing an additional 36,595 shares in the last quarter. Institutional investors and hedge funds own 71.71% of the company’s stock.
A number of equities analysts have weighed in on CELG shares. 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. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. William Blair reaffirmed a “buy” rating on shares of Celgene in a research note on Thursday, February 28th. Cantor Fitzgerald downgraded shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Friday, April 5th. Finally, Cowen started coverage on shares of Celgene in a research note on Tuesday, February 26th. They set a “market perform” rating and a $102.00 target price for the company. Twenty equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $95.96.
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, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.10. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. On average, sell-side analysts anticipate that Celgene Co. will post 9.85 EPS for the current fiscal year.
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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