Parsons Capital Management Inc. RI reduced its holdings in shares of Celgene Co. (NASDAQ:CELG) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,490 shares of the biopharmaceutical company’s stock after selling 475 shares during the period. Parsons Capital Management Inc. RI’s holdings in Celgene were worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Archford Capital Strategies LLC increased its position in Celgene by 277.8% during the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Liberty Wealth Management LLC increased its holdings in shares of Celgene by 212.8% in the second quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Investors Research Corp acquired a new position in shares of Celgene in the first quarter valued at about $28,000. Weaver Consulting Group acquired a new position in shares of Celgene in the first quarter valued at about $29,000. Finally, Alera Investment Advisors LLC increased its holdings in shares of Celgene by 109.9% in the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 167 shares during the period. 74.19% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Mizuho reissued a “buy” rating and issued a $103.00 price objective on shares of Celgene in a report on Wednesday, July 3rd. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a report on Tuesday, July 23rd. Barclays lowered Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective on the stock. in a report on Friday, May 3rd. ValuEngine lowered Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, BidaskClub raised Celgene from a “strong sell” rating to a “sell” rating in a report on Saturday, August 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $94.81.
Celgene stock traded up $0.37 during midday trading on Thursday, hitting $93.26. 93,897 shares of the company were exchanged, compared to its average volume of 4,030,758. The company has a market cap of $65.83 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.44 and a beta of 1.46. Celgene Co. has a fifty-two week low of $58.59 and a fifty-two week high of $98.97. The stock’s fifty day simple moving average is $92.75. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.44 and a quick ratio of 3.32.
Celgene (NASDAQ:CELG) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.44 by $0.17. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.22 billion. Celgene had a return on equity of 89.93% and a net margin of 32.24%. Celgene’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. Equities research analysts expect that Celgene Co. will post 9.96 earnings per share for the current 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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