Ken Stern & Associates Inc. purchased a new position in shares of Celgene Co. (NASDAQ:CELG) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,707 shares of the biopharmaceutical company’s stock, valued at approximately $242,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Ayalon Holdings Ltd. purchased a new position in Celgene during the second quarter worth about $100,000. Atlantic Trust LLC purchased a new position in Celgene during the second quarter worth about $101,000. Moneta Group Investment Advisors LLC boosted its holdings in Celgene by 2,688.6% during the second quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 9,921 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Celgene during the third quarter worth about $132,000. Finally, City Holding Co. purchased a new position in Celgene during the second quarter worth about $143,000. Institutional investors and hedge funds own 72.87% of the company’s stock.
Celgene stock opened at $72.22 on Monday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.99 and a current ratio of 2.13. The company has a market cap of $50.50 billion, a P/E ratio of 10.56, a PEG ratio of 0.45 and a beta of 1.50. Celgene Co. has a 1-year low of $66.62 and a 1-year high of $110.81.
Several research firms recently weighed in on CELG. BidaskClub upgraded shares of Celgene from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Cantor Fitzgerald began coverage on shares of Celgene in a research report on Monday, October 1st. They issued an “overweight” rating and a $100.00 price target on the stock. Leerink Swann set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research report on Friday, October 26th. UBS Group set a $94.00 price target on shares of Celgene and gave the company a “buy” rating in a research report on Saturday, October 27th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Celgene in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Celgene currently has an average rating of “Buy” and a consensus target price of $116.99.
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Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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