BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Celgene Co. (NASDAQ:CELG) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 529,331 shares of the biopharmaceutical company’s stock after selling 661 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Celgene were worth $77,187,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Grisanti Capital Management LLC purchased a new stake in shares of Celgene during the 2nd quarter valued at approximately $3,616,000. RiverPoint Capital Management LLC lifted its stake in shares of Celgene by 3.1% during the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after buying an additional 3,680 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Celgene during the 2nd quarter valued at approximately $1,701,000. Spectrum Management Group Inc. purchased a new stake in shares of Celgene during the 2nd quarter valued at approximately $462,000. Finally, Polen Capital Management LLC increased its holdings in Celgene by 7.7% during the 2nd quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after acquiring an additional 363,108 shares during the period. Institutional investors own 79.71% of the company’s stock.
A number of analysts recently weighed in on CELG shares. Morgan Stanley lowered shares of Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Thursday, October 5th. Sanford C. Bernstein lowered shares of Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 target price on the stock. in a report on Wednesday, December 27th. BTIG Research reaffirmed a “hold” rating on shares of Celgene in a report on Sunday, October 22nd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $112.00 target price on shares of Celgene in a report on Monday, October 30th. Finally, Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 target price on the stock in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $130.35.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 64.14%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.61 EPS. equities research analysts expect that Celgene Co. will post 7.82 earnings per share for the current fiscal year.
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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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