Eastern Bank raised its position in shares of Celgene Co. (NASDAQ:CELG) by 55.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,103 shares of the biopharmaceutical company’s stock after purchasing an additional 52,907 shares during the period. Eastern Bank’s holdings in Celgene were worth $15,560,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CELG. Thompson Davis & CO. Inc. increased its holdings in shares of Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of Celgene by 118.7% during the third 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 in the last quarter. Robecosam AG acquired a new position in shares of Celgene during the third quarter worth $114,000. Guidant Wealth Advisors acquired a new position in shares of Celgene during the third quarter worth $119,000. Finally, Capital Bank & Trust Co increased its holdings in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 517 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.
CELG has been the subject of several research analyst reports. Royal Bank of Canada lowered their price target on shares of Celgene from $166.00 to $148.00 and set a “top pick” rating for the company in a report on Friday, October 27th. Mizuho reissued a “buy” rating and issued a $128.00 price objective on shares of Celgene in a research note on Sunday, February 4th. SunTrust Banks reduced their price objective on shares of Celgene from $156.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Cantor Fitzgerald set a $162.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group set a $125.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $130.25.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. research analysts forecast that Celgene Co. will post 7.68 earnings per share for the current fiscal year.
Celgene declared that its board has initiated a share buyback program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Mark J. Alles acquired 3,260 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total transaction of $877,177.50. Following the transaction, the director now directly owns 94,801 shares in the company, valued at approximately $8,989,978.83. The disclosure for this sale can be found here. 0.95% of the stock is owned by corporate insiders.
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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