Chicago Equity Partners LLC Has $5.26 Million Holdings in Celgene Co. (CELG)
Chicago Equity Partners LLC lessened its holdings in shares of Celgene Co. (NASDAQ:CELG) by 21.1% in the fourth quarter, Holdings Channel reports. The fund owned 50,375 shares of the biopharmaceutical company’s stock after selling 13,490 shares during the period. Chicago Equity Partners LLC’s holdings in Celgene were worth $5,257,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CELG. Janus Henderson Group PLC boosted its position in shares of Celgene by 4,290.5% during the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after acquiring an additional 8,217,433 shares during the last quarter. BlackRock Inc. lifted its position in Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after buying an additional 3,084,227 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Celgene by 1,489.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after buying an additional 1,787,052 shares during the last quarter. Vanguard Group Inc. lifted its position in Celgene by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after buying an additional 1,610,056 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Celgene by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock worth $2,181,818,000 after buying an additional 1,546,673 shares during the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
A number of analysts recently weighed in on CELG shares. Sanford C. Bernstein downgraded Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 target price for the company. in a research report on Wednesday, December 27th. Oppenheimer set a $166.00 target price on Celgene and gave the stock a “buy” rating in a research report on Thursday, November 16th. BMO Capital Markets boosted their target price on Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. SunTrust Banks restated a “buy” rating and issued a $139.00 target price (up previously from $127.00) on shares of Celgene in a research report on Friday, January 26th. Finally, Cann restated a “buy” rating and issued a $166.00 target price on shares of Celgene in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Celgene has a consensus rating of “Buy” and an average target price of $128.22.
Celgene Co. (CELG) opened at $89.33 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. Celgene Co. has a 12 month low of $86.55 and a 12 month high of $147.17. The stock has a market capitalization of $65,582.20, a P/E ratio of 12.71, a PEG ratio of 0.62 and a beta of 1.58.
Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $3.46 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The business’s revenue was up 16.9% compared to the same quarter last year. sell-side analysts anticipate that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Celgene Company Profile
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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