Catalyst Capital Advisors LLC acquired a new stake in shares of Celgene Co. (NASDAQ:CELG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,350 shares of the biopharmaceutical company’s stock, valued at approximately $477,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wesbanco Bank Inc. increased its holdings in shares of Celgene by 137.0% during the first quarter. Wesbanco Bank Inc. now owns 96,560 shares of the biopharmaceutical company’s stock valued at $8,614,000 after acquiring an additional 55,809 shares in the last quarter. CIBC World Markets Inc. boosted its position in Celgene by 16.2% in the 1st quarter. CIBC World Markets Inc. now owns 160,349 shares of the biopharmaceutical company’s stock worth $14,305,000 after purchasing an additional 22,406 shares in the last quarter. Financial Partners Capital Management LLC boosted its position in Celgene by 7.0% in the 1st quarter. Financial Partners Capital Management LLC now owns 29,045 shares of the biopharmaceutical company’s stock worth $2,591,000 after purchasing an additional 1,900 shares in the last quarter. EagleClaw Capital Managment LLC boosted its position in Celgene by 11.3% in the 1st quarter. EagleClaw Capital Managment LLC now owns 13,260 shares of the biopharmaceutical company’s stock worth $1,183,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in Celgene by 34.9% in the 1st quarter. Moors & Cabot Inc. now owns 7,392 shares of the biopharmaceutical company’s stock worth $659,000 after purchasing an additional 1,914 shares in the last quarter. Institutional investors own 75.46% of the company’s stock.
Shares of Celgene opened at $76.66 on Friday, according to Marketbeat.com. The stock has a market capitalization of $55.99 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 0.49 and a beta of 1.45. Celgene Co. has a one year low of $74.13 and a one year high of $147.17. The company has a quick ratio of 2.36, a current ratio of 2.53 and a debt-to-equity ratio of 3.92.
Celgene declared that its board has approved a share repurchase program on Thursday, May 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on the company. Standpoint Research upgraded Celgene from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. ValuEngine downgraded Celgene from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Zacks Investment Research raised Celgene from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Tuesday, May 1st. BidaskClub raised Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, May 25th. Finally, Sanford C. Bernstein upgraded Celgene from a “market perform” rating to an “outperform” rating and set a $102.00 target price for the company in a report on Wednesday, May 23rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $123.02.
In other Celgene news, Director Gilla Kaplan sold 27,750 shares of the firm’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $78.66, for a total transaction of $2,182,815.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael D. Casey sold 13,000 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $78.77, for a total value of $1,024,010.00. Following the transaction, the director now owns 27,750 shares in the company, valued at $2,185,867.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,500 shares of company stock worth $4,608,365. 0.39% of the stock is owned by insiders.
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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