Pax World Management LLC Boosts Stake in Celgene Co. (CELG)

Pax World Management LLC lifted its position in shares of Celgene Co. (NASDAQ:CELG) by 8.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 134,085 shares of the biopharmaceutical company’s stock after buying an additional 10,000 shares during the quarter. Pax World Management LLC’s holdings in Celgene were worth $19,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Celgene by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after purchasing an additional 8,217,433 shares in the last quarter. BlackRock Inc. raised its stake in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Oaktop Capital Management II L.P. acquired a new position in Celgene in the second quarter valued at about $271,605,000. Arrowstreet Capital Limited Partnership raised its stake in Celgene by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after purchasing an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

A number of research analysts recently commented on CELG shares. Morgan Stanley downgraded Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research note on Thursday, October 5th. Sanford C. Bernstein downgraded Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price target for the company. in a research note on Wednesday, December 27th. BTIG Research reaffirmed a “hold” rating on shares of Celgene in a research note on Sunday, October 22nd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $112.00 price target on shares of Celgene in a research note on Monday, October 30th. Finally, Vetr upgraded Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 target price on the stock in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $131.35.

Shares of Celgene Co. (NASDAQ:CELG) opened at $104.18 on Tuesday. The firm has a market capitalization of $82,020.00, a PE ratio of 24.57, a PEG ratio of 0.68 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. Celgene Co. has a twelve month low of $94.55 and a twelve month high of $147.17.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 earnings per share. research analysts anticipate that Celgene Co. will post 6.68 EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.com-unik.info/2018/01/09/pax-world-management-llc-boosts-stake-in-celgene-co-celg.html.

About Celgene

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

What are top analysts saying about Celgene? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Celgene and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit