Traynor Capital Management Inc. Acquires 2,278 Shares of Celgene Co. (CELG)
Traynor Capital Management Inc. lifted its holdings in Celgene Co. (NASDAQ:CELG) by 15.7% in the fourth quarter, HoldingsChannel reports. The firm owned 16,826 shares of the biopharmaceutical company’s stock after purchasing an additional 2,278 shares during the quarter. Traynor Capital Management Inc.’s holdings in Celgene were worth $1,755,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. LSV Asset Management bought a new stake in Celgene in the second quarter worth $1,701,000. Spectrum Management Group Inc. bought a new stake in Celgene in the second quarter worth $462,000. Polen Capital Management LLC lifted its position in Celgene by 7.7% in the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after buying an additional 363,108 shares during the last quarter. BlackRock Inc. lifted its position in Celgene by 5.7% in the second 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. Finally, Vanguard Group Inc. lifted its position in Celgene by 3.1% in the second 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. 77.84% of the stock is owned by hedge funds and other institutional investors.
In other Celgene news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the transaction, the director now owns 94,801 shares in the company, valued at $9,099,947.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark J. Alles bought 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. Insiders sold 31,870 shares of company stock worth $3,028,416 in the last quarter. 0.95% of the stock is owned by insiders.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. research analysts anticipate that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene declared that its board has initiated a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently issued reports on CELG shares. Mizuho restated a “buy” rating and issued a $128.00 price target on shares of Celgene in a research report on Sunday, February 4th. Credit Suisse Group set a $125.00 target price on Celgene and gave the stock a “buy” rating in a research report on Monday, January 8th. Vetr downgraded Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 target price for the company. in a research report on Monday, December 18th. Cann reiterated a “buy” rating and set a $163.00 target price on shares of Celgene in a research report on Thursday, February 15th. Finally, Leerink Swann reiterated a “buy” rating and set a $120.00 target price on shares of Celgene in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $128.22.
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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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