Migdal Insurance & Financial Holdings Ltd. Cuts Holdings in Celgene Co. (CELG)
Migdal Insurance & Financial Holdings Ltd. lowered its stake in Celgene Co. (NASDAQ:CELG) by 73.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,820 shares of the biopharmaceutical company’s stock after selling 4,970 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Celgene were worth $265,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Flagship Harbor Advisors LLC raised its holdings in shares of Celgene by 0.9% in the first quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock valued at $253,000 after purchasing an additional 18 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Celgene in the first quarter valued at approximately $385,000. Horizon Investment Services LLC acquired a new stake in shares of Celgene in the first quarter valued at approximately $3,207,000. Bank of Nova Scotia raised its holdings in shares of Celgene by 340.0% in the first quarter. Bank of Nova Scotia now owns 192,020 shares of the biopharmaceutical company’s stock valued at $23,893,000 after purchasing an additional 148,375 shares during the last quarter. Finally, North Star Asset Management Inc. acquired a new stake in shares of Celgene in the first quarter valued at approximately $201,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on CELG shares. Cowen reiterated a “buy” rating and issued a $150.00 price objective on shares of Celgene in a report on Tuesday, September 12th. Bank of America restated a “buy” rating on shares of Celgene in a report on Wednesday, September 13th. Royal Bank of Canada started coverage on shares of Celgene in a report on Thursday, September 14th. They set a “top pick” rating and a $176.00 target price on the stock. Mizuho boosted their target price on shares of Celgene from $134.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Finally, Jefferies Group restated a “buy” rating and set a $160.00 target price on shares of Celgene in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have given a buy rating to the company. Celgene presently has a consensus rating of “Buy” and an average price target of $131.35.
Celgene Co. (NASDAQ CELG) opened at $105.49 on Wednesday. Celgene Co. has a fifty-two week low of $94.55 and a fifty-two week high of $147.17. The company has a market cap of $83,050.00, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.68 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the company earned $1.58 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. equities research analysts predict that Celgene Co. will post 6.68 EPS for the current year.
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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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