Cobiz Wealth LLC reduced its stake in shares of Celgene Co. (NASDAQ:CELG) by 47.8% in the fourth quarter, Holdings Channel reports. The firm owned 30,235 shares of the biopharmaceutical company’s stock after selling 27,713 shares during the period. Cobiz Wealth LLC’s holdings in Celgene were worth $3,155,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CELG. Thompson Davis & CO. Inc. increased its position in Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares in the last quarter. Robecosam AG acquired a new position in Celgene during the 3rd quarter valued at about $114,000. Guidant Wealth Advisors acquired a new position in Celgene during the 3rd quarter valued at about $119,000. Finally, Capital Bank & Trust Co increased its position in Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
In related news, insider Mark J. Alles bought 3,260 shares of the stock in a transaction dated Thursday, February 8th. The shares were purchased at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total value of $877,177.50. Following the completion of the sale, the director now 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 (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year. research analysts expect that Celgene Co. will post 7.68 EPS for the current fiscal year.
Celgene announced that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several brokerages recently issued reports on CELG. Cann reaffirmed a “buy” rating and set a $163.00 target price on shares of Celgene in a research report on Thursday, February 15th. Barclays raised Celgene from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $91.51 to $105.00 in a research report on Tuesday, February 13th. Mizuho reaffirmed a “buy” rating and set a $128.00 target price on shares of Celgene in a research report on Sunday, February 4th. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $112.00 target price on shares of Celgene in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have given 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 target price of $130.25.
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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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