Celgene Co. (NASDAQ:CELG) Position Reduced by Meridian Wealth Management LLC

Meridian Wealth Management LLC lessened its position in Celgene Co. (NASDAQ:CELG) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,816 shares of the biopharmaceutical company’s stock after selling 1,827 shares during the quarter. Meridian Wealth Management LLC’s holdings in Celgene were worth $1,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bruderman Asset Management LLC bought a new position in shares of Celgene during the 4th quarter worth about $25,000. Murphy Pohlad Asset Management LLC bought a new position in shares of Celgene during the 4th quarter worth about $25,000. Archford Capital Strategies LLC increased its holdings in shares of Celgene by 277.8% during the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Athena Capital Advisors LLC bought a new position in shares of Celgene during the 4th quarter worth about $27,000. Finally, Investors Research Corp bought a new position in shares of Celgene during the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

CELG has been the topic of several research reports. Cantor Fitzgerald downgraded shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a report on Friday, April 5th. ValuEngine downgraded shares of Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. BidaskClub downgraded shares of Celgene from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Cowen initiated coverage on shares of Celgene in a report on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective on the stock. Finally, Mizuho restated a “buy” rating and set a $103.00 price objective on shares of Celgene in a report on Thursday, May 16th. Eighteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $95.56.

NASDAQ CELG traded up $0.07 on Friday, reaching $96.51. The company’s stock had a trading volume of 3,144,564 shares, compared to its average volume of 4,069,833. The stock has a market cap of $68.06 billion, a P/E ratio of 12.68, a PEG ratio of 0.46 and a beta of 1.57. Celgene Co. has a 52 week low of $58.59 and a 52 week high of $97.15. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.10. The business 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 firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Research analysts anticipate that Celgene Co. will post 9.85 earnings per share 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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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