Parsec Financial Management Inc. increased its position in Celgene Co. (NASDAQ:CELG) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,564 shares of the biopharmaceutical company’s stock after purchasing an additional 5,190 shares during the quarter. Parsec Financial Management Inc.’s holdings in Celgene were worth $1,510,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. HL Financial Services LLC grew its stake in Celgene by 20.5% in the third quarter. HL Financial Services LLC now owns 4,213 shares of the biopharmaceutical company’s stock worth $377,000 after purchasing an additional 717 shares in the last quarter. FMR LLC lifted its holdings in Celgene by 26.0% during the third quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after buying an additional 2,119,257 shares during the period. ING Groep NV lifted its holdings in Celgene by 116.3% during the third quarter. ING Groep NV now owns 203,229 shares of the biopharmaceutical company’s stock worth $18,187,000 after buying an additional 109,292 shares during the period. Morgan Stanley lifted its holdings in Celgene by 20.4% during the third quarter. Morgan Stanley now owns 3,236,323 shares of the biopharmaceutical company’s stock worth $289,620,000 after buying an additional 549,404 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in Celgene by 12.3% during the third quarter. IFM Investors Pty Ltd now owns 38,302 shares of the biopharmaceutical company’s stock worth $3,428,000 after buying an additional 4,193 shares during the period. 72.70% of the stock is currently owned by institutional investors.
Shares of CELG opened at $89.67 on Friday. Celgene Co. has a 12 month low of $58.59 and a 12 month high of $100.72. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06. The firm has a market cap of $62.70 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.47 and a beta of 1.72.
A number of research firms have weighed in on CELG. Jefferies Financial Group lowered Celgene from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a report on Friday. Cantor Fitzgerald restated a “buy” rating and set a $100.00 target price on shares of Celgene in a report on Thursday. Zacks Investment Research upgraded Celgene from a “hold” rating to a “strong-buy” rating and set a $99.00 target price for the company in a report on Wednesday, January 23rd. Robert W. Baird upgraded Celgene from a “neutral” rating to an “outperform” rating and set a $92.00 target price for the company in a report on Friday, January 4th. Finally, BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a report on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $109.29.
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Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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