Renaissance Group LLC Acquires 6,833 Shares of Celgene Co. (CELG)
Renaissance Group LLC increased its holdings in shares of Celgene Co. (NASDAQ:CELG) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 248,722 shares of the biopharmaceutical company’s stock after acquiring an additional 6,833 shares during the quarter. Celgene comprises about 1.2% of Renaissance Group LLC’s holdings, making the stock its 16th largest position. Renaissance Group LLC’s holdings in Celgene were worth $36,269,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Arcadia Investment Management Corp MI boosted its position in Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 400 shares during the period. Thompson Davis & CO. Inc. boosted its position in Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares during the period. Guidant Wealth Advisors acquired a new stake in Celgene during the 3rd quarter worth approximately $119,000. Motco boosted its position in Celgene by 19.3% during the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 159 shares during the period. Finally, Balentine LLC boosted its position in Celgene by 83.5% during the 2nd quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 481 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.
A number of research analysts have recently issued reports on CELG shares. BMO Capital Markets boosted their price target on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the stock a “hold” rating in a research report on Wednesday. Oppenheimer restated a “buy” rating and issued a $170.00 price target on shares of Celgene in a research report on Friday, October 20th. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price target on the stock in a research report on Monday, October 23rd. Finally, Cann restated a “buy” rating on shares of Celgene in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Celgene currently has an average rating of “Buy” and a consensus target price of $129.98.
Shares of Celgene Co. (NASDAQ:CELG) opened at $101.72 on Friday. The firm has a market cap of $80,090.00, a price-to-earnings ratio of 23.99, a PEG ratio of 0.65 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 Co. has a one year low of $94.55 and a one year high of $147.17.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. Celgene’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 EPS. analysts expect that Celgene Co. will post 6.7 earnings per share for the current fiscal year.
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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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