Doliver Capital Advisors LP bought a new position in Celgene (NASDAQ:CELG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,403 shares of the biopharmaceutical company’s stock, valued at approximately $304,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Jump Trading LLC increased its stake in shares of 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 buying an additional 3,219 shares during the period. Israel Discount Bank of New York increased its stake in shares of 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 buying an additional 1,000 shares during the period. Sectoral Asset Management Inc increased its stake in shares of Celgene by 79.8% during the fourth quarter. Sectoral Asset Management Inc now owns 231,830 shares of the biopharmaceutical company’s stock valued at $24,194,000 after buying an additional 102,898 shares during the period. Haverford Trust Co. purchased a new position in shares of Celgene during the third quarter valued at $378,000. Finally, Alliance Wealth Management Group purchased a new position in shares of Celgene during the third quarter valued at $360,000. Institutional investors and hedge funds own 80.60% of the company’s stock.
Shares of Celgene opened at $78.37 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 3.92, a current ratio of 2.53 and a quick ratio of 2.36. The stock has a market capitalization of $56.80 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49. Celgene has a fifty-two week low of $78.35 and a fifty-two week high of $147.17.
Celgene announced that its board has approved a share buyback program on Wednesday, February 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO Mark J. Alles bought 1,208 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was purchased at an average price of $82.60 per share, with a total value of $99,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 187,316 shares of the company’s stock, valued at approximately $15,472,301.60. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James J. Loughlin sold 9,250 shares of Celgene 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 disclosure for this sale can be found here. Insiders have sold 31,870 shares of company stock valued at $2,991,601 in the last ninety days. Corporate insiders own 0.95% of the company’s stock.
Several equities analysts have recently commented on the company. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the company a “hold” rating in a research note on Monday, April 2nd. BTIG Research restated a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. Barclays set a $107.00 price objective on Celgene and gave the company a “buy” rating in a research report on Sunday, May 6th. Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Finally, ValuEngine downgraded Celgene from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $123.98.
Celgene Company Profile
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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