South State Corp Boosts Position in Celgene Co. (CELG)

South State Corp lifted its position in shares of Celgene Co. (NASDAQ:CELG) by 66.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,614 shares of the biopharmaceutical company’s stock after acquiring an additional 11,403 shares during the period. South State Corp’s holdings in Celgene were worth $2,560,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CELG. Johnson Financial Group Inc. increased its position in Celgene by 4.5% in the second quarter. Johnson Financial Group Inc. now owns 13,100 shares of the biopharmaceutical company’s stock worth $1,040,000 after buying an additional 567 shares during the period. Wetherby Asset Management Inc. grew its stake in shares of Celgene by 5.4% in the second quarter. Wetherby Asset Management Inc. now owns 11,857 shares of the biopharmaceutical company’s stock worth $942,000 after purchasing an additional 603 shares in the last quarter. Tompkins Financial Corp grew its stake in shares of Celgene by 3.8% in the second quarter. Tompkins Financial Corp now owns 18,059 shares of the biopharmaceutical company’s stock worth $1,434,000 after purchasing an additional 656 shares in the last quarter. Hills Bank & Trust Co. grew its stake in shares of Celgene by 4.9% in the third quarter. Hills Bank & Trust Co. now owns 14,255 shares of the biopharmaceutical company’s stock worth $1,276,000 after purchasing an additional 672 shares in the last quarter. Finally, Coastline Trust Co grew its stake in shares of Celgene by 14.5% in the second quarter. Coastline Trust Co now owns 5,370 shares of the biopharmaceutical company’s stock worth $427,000 after purchasing an additional 680 shares in the last quarter. 73.72% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. BidaskClub cut Celgene from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Cantor Fitzgerald assumed coverage on Celgene in a research note on Monday, October 1st. They issued an “overweight” rating and a $100.00 price target for the company. Mizuho set a $117.00 price target on Celgene and gave the stock a “buy” rating in a research note on Tuesday, October 30th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Celgene in a research note on Thursday, October 11th. Finally, SunTrust Banks reissued a “hold” rating and issued a $101.00 price target on shares of Celgene in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Celgene has an average rating of “Buy” and an average price target of $117.91.

Shares of CELG stock opened at $69.98 on Friday. Celgene Co. has a fifty-two week low of $68.91 and a fifty-two week high of $110.81. The stock has a market cap of $49.12 billion, a P/E ratio of 10.23, a PEG ratio of 0.43 and a beta of 1.53. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06.

Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.27. Celgene had a return on equity of 108.76% and a net margin of 19.64%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. As a group, sell-side analysts predict that Celgene Co. will post 7.45 EPS for the current fiscal year.

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About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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