Gibraltar Capital Management Inc. Purchases 15,603 Shares of Celgene Co. (CELG)

Gibraltar Capital Management Inc. raised its position in shares of Celgene Co. (NASDAQ:CELG) by 51.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 46,029 shares of the biopharmaceutical company’s stock after buying an additional 15,603 shares during the quarter. Celgene makes up 3.8% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 14th largest position. Gibraltar Capital Management Inc.’s holdings in Celgene were worth $4,804,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CELG. Thompson Davis & CO. Inc. grew its stake in shares of Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares during the period. Arcadia Investment Management Corp MI grew its stake in shares of Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares during the period. Robecosam AG bought a new position in shares of Celgene during the 3rd quarter valued at approximately $114,000. Guidant Wealth Advisors bought a new position in shares of Celgene during the 3rd quarter valued at approximately $119,000. Finally, Capital Bank & Trust Co grew its stake in shares of Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 517 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

A number of brokerages recently issued reports on CELG. Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. William Blair reiterated an “outperform” rating on shares of Celgene in a research note on Friday, October 20th. Citigroup downgraded Celgene from a “buy” rating to a “neutral” rating in a research note on Friday, October 20th. Robert W. Baird downgraded Celgene from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $162.00 to $136.00 in a research note on Friday, October 20th. Finally, Barclays cut their price objective on Celgene from $135.00 to $105.00 and set an “equal weight” rating for the company in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Celgene presently has a consensus rating of “Buy” and a consensus target price of $130.35.

In other news, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $91.90 per share, with a total value of $299,594.00. Following the acquisition, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.95% of the stock is owned by corporate insiders.

Shares of Celgene Co. (CELG) opened at $94.39 on Thursday. The stock has a market capitalization of $71,000.00, a P/E ratio of 26.15, a PEG ratio of 0.64 and a beta of 1.49. Celgene Co. has a twelve month low of $88.32 and a twelve month high of $147.17. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. equities research analysts predict that Celgene Co. will post 7.68 earnings per share for the current fiscal year.

Celgene announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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Celgene 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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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