Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Celgene Co. (NASDAQ:CELG) by 42.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,845 shares of the biopharmaceutical company’s stock after selling 17,352 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Celgene were worth $2,368,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new position in Celgene during the 3rd quarter worth approximately $26,000. Liberty Wealth Management LLC raised its position in Celgene by 212.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 200 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management purchased a new position in Celgene during the 3rd quarter worth approximately $28,000. Massey Quick Simon & CO. LLC purchased a new position in Celgene during the 2nd quarter worth approximately $33,000. Finally, Lenox Wealth Advisors LLC purchased a new position in Celgene during the 3rd quarter worth approximately $37,000. Institutional investors own 72.06% of the company’s stock.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Celgene from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. ValuEngine lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Mizuho reissued a “hold” rating and set a $100.00 price target on shares of Celgene in a research report on Sunday, October 20th. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research report on Tuesday, July 23rd. Finally, Robert W. Baird lowered shares of Celgene from an “outperform” rating to a “neutral” rating and set a $101.00 price target for the company. in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $97.31.
Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.29. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.39 billion. Celgene had a net margin of 34.63% and a return on equity of 78.15%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. On average, equities research analysts predict that Celgene Co. will post 10.7 EPS for the current fiscal year.
In other news, insider Terrie Curran sold 11,338 shares of Celgene stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $98.27, for a total transaction of $1,114,185.26. Following the completion of the transaction, the insider now directly owns 13,493 shares of the company’s stock, valued at approximately $1,325,957.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by insiders.
Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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