Wagner Wealth Management LLC acquired a new stake in shares of Celgene (NASDAQ:CELG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,229 shares of the biopharmaceutical company’s stock, valued at approximately $129,000.
Several other institutional investors also recently added to or reduced their stakes in CELG. Virtue Capital Management LLC bought a new stake in Celgene in the fourth quarter worth $101,000. Robecosam AG bought a new stake in Celgene in the third quarter worth $114,000. Guidant Wealth Advisors bought a new stake in Celgene in the third quarter worth $119,000. American Beacon Advisors Inc. bought a new stake in Celgene in the fourth quarter worth $120,000. Finally, Capital Bank & Trust Co increased its position 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 purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.
Shares of CELG opened at $88.95 on Monday. The firm has a market cap of $66,906.05, a PE ratio of 13.00, a P/E/G ratio of 0.59 and a beta of 1.49. Celgene has a 12-month low of $84.25 and a 12-month high of $147.17. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29.
Celgene announced that its board has authorized a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Deutsche Bank set a $110.00 price target on shares of Celgene and gave the stock a “hold” rating in a research report on Monday, January 8th. Robert W. Baird restated a “hold” rating and issued a $92.00 price target on shares of Celgene in a research report on Thursday, March 1st. SunTrust Banks set a $127.00 price target on shares of Celgene and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $126.95.
In other news, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the acquisition, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ernest Mario sold 13,370 shares of Celgene stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 over the last 90 days. 0.95% of the stock is currently owned by corporate insiders.
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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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