Chase Investment Counsel Corp lessened its holdings in Celgene Co. (NASDAQ:CELG) by 13.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 38,140 shares of the biopharmaceutical company’s stock after selling 5,737 shares during the quarter. Celgene comprises about 2.9% of Chase Investment Counsel Corp’s holdings, making the stock its 8th biggest position. Chase Investment Counsel Corp’s holdings in Celgene were worth $5,561,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CELG. Grisanti Capital Management LLC purchased a new stake in Celgene during the 2nd quarter worth approximately $3,616,000. RiverPoint Capital Management LLC increased its stake in Celgene by 3.1% during the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock worth $15,799,000 after buying an additional 3,680 shares in the last quarter. LSV Asset Management purchased a new stake in Celgene during the 2nd quarter worth approximately $1,701,000. Spectrum Management Group Inc. purchased a new stake in Celgene during the 2nd quarter worth approximately $462,000. Finally, Polen Capital Management LLC increased its stake in Celgene by 7.7% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.
CELG has been the subject of a number of analyst reports. Morgan Stanley lowered Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research report on Thursday, October 5th. Sanford C. Bernstein lowered Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price target for the company. in a research report on Wednesday, December 27th. BTIG Research restated a “hold” rating on shares of Celgene in a research report on Sunday, October 22nd. Cantor Fitzgerald restated a “hold” rating and issued a $112.00 price target on shares of Celgene in a research report on Monday, October 30th. Finally, Vetr upgraded Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price target for the company in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Celgene has a consensus rating of “Buy” and an average price target of $131.35.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. equities analysts anticipate that Celgene Co. will post 6.68 EPS 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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