Fernwood Investment Management LLC decreased its position in Celgene Co. (NASDAQ:CELG) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,925 shares of the biopharmaceutical company’s stock after selling 1,400 shares during the quarter. Fernwood Investment Management LLC’s holdings in Celgene were worth $270,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Celgene by 89.3% in the 1st quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock valued at $1,571,387,000 after purchasing an additional 7,856,422 shares during the period. Geode Capital Management LLC grew its holdings in shares of Celgene by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock valued at $636,179,000 after acquiring an additional 787,638 shares in the last quarter. Abrams Capital Management L.P. bought a new position in shares of Celgene in the 1st quarter valued at about $637,066,000. American Century Companies Inc. grew its holdings in shares of Celgene by 4.7% in the 1st quarter. American Century Companies Inc. now owns 3,865,722 shares of the biopharmaceutical company’s stock valued at $364,692,000 after acquiring an additional 172,466 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Celgene by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,990,147 shares of the biopharmaceutical company’s stock valued at $282,090,000 after acquiring an additional 28,374 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Celgene stock traded up $0.23 during midday trading on Thursday, reaching $93.12. 100,452 shares of the company’s stock were exchanged, compared to its average volume of 4,030,758. Celgene Co. has a 52 week low of $58.59 and a 52 week high of $98.97. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 1.97. The company has a market cap of $65.83 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46. The firm has a 50-day moving average price of $92.75.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 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 business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the company posted $2.16 earnings per share. Celgene’s quarterly revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts expect that Celgene Co. will post 9.96 earnings per share for the current year.
Several equities analysts have recently weighed in on the company. Barclays cut Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective for the company. in a report on Friday, May 3rd. ValuEngine cut Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a report on Saturday, August 3rd. Cowen restated a “hold” rating and issued a $102.00 price objective on shares of Celgene in a report on Tuesday, July 30th. Finally, Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective for the company in a report on Tuesday, July 23rd. Two 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $94.81.
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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