Groesbeck Investment Management Corp NJ Cuts Stake in Celgene Co. (NASDAQ:CELG)

Groesbeck Investment Management Corp NJ decreased its holdings in Celgene Co. (NASDAQ:CELG) by 4.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,250 shares of the biopharmaceutical company’s stock after selling 180 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Celgene were worth $393,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Altium Wealth Management LLC lifted its position in shares of Celgene by 1.3% in the 1st quarter. Altium Wealth Management LLC now owns 8,980 shares of the biopharmaceutical company’s stock worth $847,000 after purchasing an additional 115 shares during the period. Global Retirement Partners LLC lifted its position in shares of Celgene by 10.0% in the 1st quarter. Global Retirement Partners LLC now owns 1,269 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 115 shares during the period. Community Bank N.A. lifted its position in shares of Celgene by 3.2% in the 1st quarter. Community Bank N.A. now owns 3,922 shares of the biopharmaceutical company’s stock worth $370,000 after purchasing an additional 120 shares during the period. Manchester Capital Management LLC lifted its position in shares of Celgene by 1.2% in the 1st quarter. Manchester Capital Management LLC now owns 9,768 shares of the biopharmaceutical company’s stock worth $922,000 after purchasing an additional 120 shares during the period. Finally, Iberiabank Corp lifted its position in shares of Celgene by 1.0% in the 1st quarter. Iberiabank Corp now owns 12,019 shares of the biopharmaceutical company’s stock worth $1,134,000 after purchasing an additional 121 shares during the period. 74.77% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the stock. Cowen reaffirmed a “hold” rating and issued a $102.00 target price on shares of Celgene in a research report on Tuesday, July 30th. Barclays cut shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 target price for the company. in a research report on Friday, May 3rd. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research report on Tuesday, July 23rd. Mizuho reaffirmed a “buy” rating and issued a $103.00 target price on shares of Celgene in a research report on Wednesday, July 3rd. Finally, ValuEngine cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.81.

Shares of Celgene stock traded up $0.29 during trading on Tuesday, hitting $93.17. The company’s stock had a trading volume of 1,480,829 shares, compared to its average volume of 3,928,913. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.44 and a quick ratio of 3.32. The business’s fifty day moving average price is $93.22. The firm has a market capitalization of $65.94 billion, a P/E ratio of 12.24, a PEG ratio of 0.44 and a beta of 1.46. Celgene Co. has a 52 week low of $58.59 and a 52 week high of $98.97.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.17. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. Celgene’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. As a group, equities research analysts anticipate that Celgene Co. will post 9.96 EPS for the current fiscal year.

Celgene 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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