RNC Capital Management LLC trimmed its holdings in Celgene Co. (NASDAQ:CELG) by 12.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,750 shares of the biopharmaceutical company’s stock after selling 375 shares during the quarter. RNC Capital Management LLC’s holdings in Celgene were worth $254,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CELG. FMR LLC increased its position in Celgene by 89.3% in the first quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock worth $1,571,387,000 after purchasing an additional 7,856,422 shares during the period. Geode Capital Management LLC grew its position in shares of Celgene by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock worth $636,179,000 after buying an additional 787,638 shares during the period. Abrams Capital Management L.P. acquired a new position in shares of Celgene during the 1st quarter worth about $637,066,000. American Century Companies Inc. grew its position in shares of Celgene by 4.7% during the 1st quarter. American Century Companies Inc. now owns 3,865,722 shares of the biopharmaceutical company’s stock worth $364,692,000 after buying an additional 172,466 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Celgene by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,990,147 shares of the biopharmaceutical company’s stock worth $282,090,000 after buying an additional 28,374 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on CELG. ValuEngine lowered Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday. Mizuho reiterated a “buy” rating and issued a $103.00 price objective on shares of Celgene in a research report on Wednesday, July 3rd. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a research note on Saturday. Cowen restated a “hold” rating and issued a $102.00 target price on shares of Celgene in a research note on Tuesday, July 30th. Finally, Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $94.81.
Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.17. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. Analysts anticipate that Celgene Co. will post 9.96 EPS for the current year.
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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