Gibraltar Capital Management Inc. increased its position in shares of Celgene Co. (NASDAQ:CELG) by 51.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,029 shares of the biopharmaceutical company’s stock after purchasing an additional 15,603 shares during the period. Celgene accounts for about 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 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. grew its holdings in shares of Celgene by 5.9% in the second 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 in the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG acquired a new position in shares of Celgene in the third quarter valued at approximately $114,000. Guidant Wealth Advisors acquired a new position in shares of Celgene in the third quarter valued at approximately $119,000. Finally, Capital Bank & Trust Co lifted its stake in Celgene by 166.8% in the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
A number of research analysts recently issued reports on CELG shares. Cantor Fitzgerald set a $162.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday, October 26th. Wells Fargo & Co downgraded shares of Celgene from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 26th. UBS Group downgraded shares of Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 price target for the company. in a research note on Thursday, October 26th. Cann reiterated a “buy” rating on shares of Celgene in a research note on Thursday, October 26th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $103.00 price target on shares of Celgene in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $130.25.
Celgene (NASDAQ:CELG) last posted its quarterly 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 net margin of 22.38% and a return on equity of 67.50%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the company posted $1.61 EPS. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. analysts forecast that Celgene Co. will post 7.68 EPS for the current year.
Celgene declared that its board has initiated a share buyback plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In other Celgene news, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total transaction of $877,177.50. Following the completion of the sale, the director now owns 94,801 shares in the company, valued at $8,989,978.83. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
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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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