FUKOKU MUTUAL LIFE INSURANCE Co cut its stake in Celgene (NASDAQ:CELG) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,100 shares of the biopharmaceutical company’s stock after selling 1,400 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Celgene were worth $277,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its stake in Celgene by 361.3% in the fourth quarter. Two Sigma Advisers LP now owns 3,134,127 shares of the biopharmaceutical company’s stock worth $327,077,000 after acquiring an additional 2,454,703 shares during the period. HealthCor Management L.P. lifted its stake in Celgene by 217.6% in the fourth quarter. HealthCor Management L.P. now owns 1,725,000 shares of the biopharmaceutical company’s stock worth $180,021,000 after acquiring an additional 1,181,820 shares during the period. Janus Henderson Group PLC lifted its stake in Celgene by 11.9% in the third quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock worth $1,372,196,000 after acquiring an additional 1,001,272 shares during the period. Clearbridge Investments LLC lifted its stake in Celgene by 17.0% in the fourth quarter. Clearbridge Investments LLC now owns 6,316,829 shares of the biopharmaceutical company’s stock worth $659,224,000 after acquiring an additional 916,173 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Celgene by 40.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,915,408 shares of the biopharmaceutical company’s stock worth $304,252,000 after acquiring an additional 839,511 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.
In other Celgene news, CEO Mark J. Alles purchased 1,208 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The shares were bought at an average price of $82.60 per share, for a total transaction of $99,780.80. Following the acquisition, the chief executive officer now owns 187,316 shares in the company, valued at $15,472,301.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 94,801 shares in the company, valued at approximately $8,989,978.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,870 shares of company stock worth $2,991,601. 0.95% of the stock is owned by corporate insiders.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.09. Celgene had a net margin of 20.73% and a return on equity of 72.92%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $1.68 EPS. Celgene’s quarterly revenue was up 19.4% on a year-over-year basis. analysts forecast that Celgene will post 7.63 earnings per share for the current year.
Celgene declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Several research firms have commented on CELG. Zacks Investment Research lowered shares of Celgene from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Morgan Stanley decreased their price target on shares of Celgene from $93.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, May 7th. Leerink Swann reissued a “buy” rating and set a $115.00 price target (down from $123.00) on shares of Celgene in a research report on Monday, May 7th. Barclays set a $107.00 price target on shares of Celgene and gave the company a “buy” rating in a research report on Sunday, May 6th. Finally, Royal Bank of Canada lowered shares of Celgene from a “top pick” rating to an “outperform” rating and set a $120.00 price target for the company. in a research report on Monday, May 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $123.98.
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.
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.