Hoylecohen LLC Invests $3.91 Million in Celgene (CELG)

Hoylecohen LLC purchased a new position in shares of Celgene (NASDAQ:CELG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,457 shares of the biopharmaceutical company’s stock, valued at approximately $3,909,000.

A number of other institutional investors also recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in Celgene by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after purchasing an additional 1,546,673 shares during the period. Edgewood Management LLC grew its stake in Celgene by 0.9% in the 3rd quarter. Edgewood Management LLC now owns 10,556,896 shares of the biopharmaceutical company’s stock valued at $1,539,407,000 after purchasing an additional 98,943 shares during the period. Janus Henderson Group PLC grew its stake in Celgene by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock valued at $1,372,196,000 after purchasing an additional 1,001,272 shares during the period. Geode Capital Management LLC grew its stake in Celgene by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 8,308,096 shares of the biopharmaceutical company’s stock valued at $865,210,000 after purchasing an additional 343,340 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Celgene by 17.0% in the 4th quarter. Clearbridge Investments LLC now owns 6,316,829 shares of the biopharmaceutical company’s stock valued at $659,224,000 after purchasing an additional 916,173 shares during the period. Institutional investors and hedge funds own 78.53% of the company’s stock.

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In other Celgene news, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark J. Alles purchased 3,260 shares of the stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the acquisition, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The disclosure for this purchase can be found here. Insiders have sold a total of 41,120 shares of company stock worth $3,879,509 in the last three months. 0.95% of the stock is currently owned by insiders.

CELG has been the subject of a number of recent analyst reports. Sanford C. Bernstein downgraded Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price objective for the company. in a research note on Wednesday, December 27th. SunTrust Banks restated a “buy” rating and issued a $139.00 price objective (up previously from $127.00) on shares of Celgene in a research note on Friday, January 26th. Vetr upgraded Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective for the company in a research note on Thursday, January 25th. Zacks Investment Research downgraded Celgene from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, Mizuho set a $128.00 price objective on Celgene and gave the company a “buy” rating in a research note on Friday, January 5th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $126.95.

Shares of CELG opened at $91.10 on Wednesday. The stock has a market cap of $67,244.50, a P/E ratio of 13.32, a P/E/G ratio of 0.60 and a beta of 1.48. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. Celgene has a 52-week low of $84.25 and a 52-week high of $147.17.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 EPS. research analysts expect that Celgene will post 7.66 EPS for the current year.

Celgene announced that its board has authorized a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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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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