Riverhead Capital Management LLC Reduces Holdings in Celgene Co. (NASDAQ:CELG)

Riverhead Capital Management LLC reduced its stake in Celgene Co. (NASDAQ:CELG) by 81.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,042 shares of the biopharmaceutical company’s stock after selling 13,291 shares during the quarter. Riverhead Capital Management LLC’s holdings in Celgene were worth $281,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. FMR LLC grew its holdings in Celgene by 89.3% in the 1st quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock valued at $1,571,387,000 after buying an additional 7,856,422 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Celgene by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock valued at $636,179,000 after purchasing an additional 787,638 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Celgene by 85.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,935,785 shares of the biopharmaceutical company’s stock valued at $826,024,000 after purchasing an additional 4,122,685 shares during the last quarter. Abrams Capital Management L.P. acquired a new position in shares of Celgene in the 1st quarter valued at $637,066,000. Finally, American Century Companies Inc. lifted its stake in shares of Celgene by 4.7% in the 1st quarter. American Century Companies Inc. now owns 3,865,722 shares of the biopharmaceutical company’s stock valued at $364,692,000 after purchasing an additional 172,466 shares during the last quarter. Institutional investors own 72.51% of the company’s stock.

CELG traded up $0.02 during mid-day trading on Friday, hitting $98.65. 98,379 shares of the stock were exchanged, compared to its average volume of 3,024,607. The firm’s fifty day moving average is $94.93 and its two-hundred day moving average is $93.38. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $99.06. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 1.97. The company has a market cap of $69.21 billion, a PE ratio of 12.96, a PEG ratio of 0.46 and a beta of 1.41.

Celgene (NASDAQ:CELG) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.17. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the company earned $2.16 EPS. Celgene’s revenue was up 15.4% on a year-over-year basis. As a group, research analysts anticipate that Celgene Co. will post 9.96 earnings per share for the current year.

CELG has been the topic of several recent analyst reports. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target on the stock in a research note on Tuesday, July 23rd. Cowen reaffirmed a “hold” rating and issued a $102.00 price target on shares of Celgene in a research note on Tuesday, July 30th. BidaskClub lowered Celgene from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. ValuEngine lowered Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, Mizuho lowered Celgene from a “buy” rating to a “neutral” rating and decreased their price target for the company from $103.00 to $100.00 in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $94.60.

About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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