Gibraltar Capital Management Inc. boosted its stake in Celgene Co. (NASDAQ:CELG) by 51.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,029 shares of the biopharmaceutical company’s stock after acquiring an additional 15,603 shares during the period. Celgene accounts for approximately 3.8% of Gibraltar Capital Management Inc.’s holdings, making the stock its 14th biggest holding. Gibraltar Capital Management Inc.’s holdings in Celgene were worth $4,804,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. lifted its position in Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares during the period. Arcadia Investment Management Corp MI lifted its position in Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the period. Robecosam AG purchased a new position in Celgene during the third quarter valued at $114,000. Guidant Wealth Advisors purchased a new position in Celgene during the third quarter valued at $119,000. Finally, Capital Bank & Trust Co lifted its position in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.
In other Celgene news, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by insiders.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the firm earned $1.61 EPS. Celgene’s revenue was up 16.9% on a year-over-year basis. equities analysts forecast that Celgene Co. will post 7.68 earnings per share for the current year.
Celgene declared that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
CELG has been the subject of several recent research reports. Sanford C. Bernstein lowered Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price objective for the company. in a research report on Wednesday, December 27th. BTIG Research reissued a “hold” rating on shares of Celgene in a research report on Sunday, October 22nd. Cantor Fitzgerald reissued a “hold” rating and set a $112.00 price objective on shares of Celgene in a research report on Monday, October 30th. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price objective for the company in a research report on Monday, October 23rd. Finally, Oppenheimer set a $166.00 price objective on Celgene and gave the company a “buy” rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $130.35.
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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