Oppenheimer Asset Management Inc. trimmed its position in shares of Celgene Co. (NASDAQ:CELG) by 23.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,340 shares of the biopharmaceutical company’s stock after selling 2,218 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Celgene were worth $470,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Legacy Financial Advisors Inc. increased its holdings in Celgene by 61.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 825 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 315 shares in the last quarter. Csenge Advisory Group acquired a new stake in Celgene during the 3rd quarter worth $90,000. Global Trust Asset Management LLC boosted its stake in Celgene by 217.9% during the 4th quarter. Global Trust Asset Management LLC now owns 1,459 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,000 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Celgene during the 3rd quarter worth $132,000. Finally, Legacy Bridge LLC acquired a new stake in Celgene during the 4th quarter worth $144,000. 75.15% of the stock is owned by hedge funds and other institutional investors.
In other news, Director James J. Loughlin sold 23,466 shares of the business’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $87.29, for a total transaction of $2,048,347.14. Following the transaction, the director now owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Celgene had a net margin of 26.48% and a return on equity of 125.35%. During the same quarter in the previous year, the company posted $2.00 EPS. As a group, analysts forecast that Celgene Co. will post 10.01 earnings per share for the current year.
CELG has been the topic of several recent research reports. Mizuho set a $117.00 target price on shares of Celgene and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Morgan Stanley lowered their target price on shares of Celgene from $93.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 19th. UBS Group set a $94.00 target price on shares of Celgene and gave the stock a “buy” rating in a research note on Saturday, October 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Celgene in a research note on Thursday, October 25th. Finally, BidaskClub raised shares of Celgene from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $109.29.
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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