Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Celgene Co. (NASDAQ:CELG) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,427,873 shares of the biopharmaceutical company’s stock after selling 20,830 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Celgene were worth $354,032,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 400 shares during the period. Guidant Wealth Advisors acquired a new stake in Celgene during the 3rd quarter worth approximately $119,000. Motco raised its holdings in Celgene by 19.3% during the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 159 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in Celgene during the 2nd quarter worth approximately $129,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
CELG has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Oppenheimer reiterated a “buy” rating and issued a $170.00 price objective on shares of Celgene in a report on Friday, October 20th. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price objective on the stock in a report on Monday, October 23rd. Cann reiterated a “buy” rating on shares of Celgene in a report on Thursday, October 26th. Finally, Morgan Stanley upgraded shares of Celgene from an “underweight” rating to an “equal weight” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $131.18.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. analysts anticipate that Celgene Co. will post 6.69 EPS for the current year.
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Celgene Company Profile
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.
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