Pin Oak Investment Advisors Inc. Purchases Shares of 1,595 Celgene (CELG)

Pin Oak Investment Advisors Inc. purchased a new stake in shares of Celgene (NASDAQ:CELG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,595 shares of the biopharmaceutical company’s stock, valued at approximately $166,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CELG. Lockheed Martin Investment Management Co. boosted its holdings in Celgene by 40.0% during the third quarter. Lockheed Martin Investment Management Co. now owns 14,000 shares of the biopharmaceutical company’s stock valued at $2,041,000 after purchasing an additional 4,000 shares in the last quarter. Sigma Planning Corp boosted its holdings in Celgene by 399.8% during the third quarter. Sigma Planning Corp now owns 19,834 shares of the biopharmaceutical company’s stock valued at $2,892,000 after purchasing an additional 15,866 shares in the last quarter. Howland Capital Management LLC boosted its holdings in Celgene by 8.6% during the third quarter. Howland Capital Management LLC now owns 156,853 shares of the biopharmaceutical company’s stock valued at $22,872,000 after purchasing an additional 12,455 shares in the last quarter. Israel Discount Bank of New York boosted its holdings in Celgene by 20.7% during the fourth quarter. Israel Discount Bank of New York now owns 5,820 shares of the biopharmaceutical company’s stock valued at $607,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Jump Trading LLC boosted its holdings in Celgene by 160,950.0% during the fourth quarter. Jump Trading LLC now owns 3,217 shares of the biopharmaceutical company’s stock valued at $336,000 after purchasing an additional 3,219 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

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A number of research firms have weighed in on CELG. Sanford C. Bernstein downgraded Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price objective on the stock. in a report on Wednesday, December 27th. Bank of America downgraded Celgene from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $104.68 to $120.00 in a report on Friday, January 5th. Royal Bank of Canada reaffirmed a “buy” rating and set a $147.00 price objective on shares of Celgene in a report on Thursday, January 4th. Guggenheim set a $152.00 price objective on Celgene and gave the company a “buy” rating in a report on Monday, December 25th. Finally, SunTrust Banks set a $127.00 target price on Celgene and gave the stock a “buy” rating in a report on Monday, December 25th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $126.95.

In other Celgene news, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.99, for a total transaction of $887,907.50. Following the sale, the director now owns 94,801 shares of the company’s stock, valued at approximately $9,099,947.99. The disclosure for this sale can be found here. Insiders have sold a total of 41,120 shares of company stock valued at $3,879,509 in the last quarter. Corporate insiders own 0.95% of the company’s stock.

CELG stock opened at $88.95 on Friday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene has a fifty-two week low of $84.25 and a fifty-two week high of $147.17. The company has a market capitalization of $67,409.98, a P/E ratio of 13.00, a P/E/G ratio of 0.60 and a beta of 1.49.

Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. Celgene’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 EPS. sell-side analysts forecast that Celgene will post 7.69 EPS for the current fiscal year.

Celgene announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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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