Pictet Asset Management Ltd. lifted its position in Celgene Co. (NASDAQ:CELG) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,519,156 shares of the biopharmaceutical company’s stock after purchasing an additional 110,181 shares during the quarter. Celgene comprises about 1.0% of Pictet Asset Management Ltd.’s holdings, making the stock its 6th biggest holding. Pictet Asset Management Ltd. owned approximately 0.32% of Celgene worth $367,343,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Calamos Advisors LLC boosted its stake in Celgene by 2.8% during the third quarter. Calamos Advisors LLC now owns 808,226 shares of the biopharmaceutical company’s stock worth $117,856,000 after buying an additional 22,083 shares during the period. Northstar Asset Management LLC boosted its stake in Celgene by 126.0% during the third quarter. Northstar Asset Management LLC now owns 21,220 shares of the biopharmaceutical company’s stock worth $3,094,000 after buying an additional 11,830 shares during the period. Carroll Financial Associates Inc. boosted its stake in Celgene by 60.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,548 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 584 shares during the period. Duncker Streett & Co. Inc. boosted its stake in Celgene by 39.6% during the third quarter. Duncker Streett & Co. Inc. now owns 10,545 shares of the biopharmaceutical company’s stock worth $1,538,000 after buying an additional 2,990 shares during the period. Finally, Aperio Group LLC boosted its stake in Celgene by 11.9% during the third quarter. Aperio Group LLC now owns 486,858 shares of the biopharmaceutical company’s stock worth $70,994,000 after buying an additional 51,892 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on CELG shares. Vetr lowered shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $146.88 target price for the company. in a research note on Tuesday, August 29th. Royal Bank of Canada lowered their target price on shares of Celgene from $166.00 to $148.00 and set a “top pick” rating for the company in a research note on Friday, October 27th. Leerink Swann reissued a “buy” rating and set a $156.00 price target on shares of Celgene in a research report on Friday, October 20th. Morgan Stanley reduced their price target on shares of Celgene from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, October 23rd. Finally, SunTrust Banks reduced their price target on shares of Celgene from $156.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $134.92.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.04. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. equities analysts forecast that Celgene Co. will post 6.68 EPS for the current 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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