Chemical Bank Sells 841 Shares of Celgene Co. (CELG)

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Chemical Bank decreased its holdings in Celgene Co. (NASDAQ:CELG) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,184 shares of the biopharmaceutical company’s stock after selling 841 shares during the period. Chemical Bank’s holdings in Celgene were worth $822,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ayalon Holdings Ltd. acquired a new stake in shares of Celgene during the 2nd quarter worth approximately $100,000. Atlantic Trust LLC acquired a new stake in shares of Celgene during the 2nd quarter worth approximately $101,000. Acropolis Investment Management LLC acquired a new stake in shares of Celgene during the 2nd quarter worth approximately $112,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Celgene by 2,688.6% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 9,921 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Celgene during the 3rd quarter worth approximately $132,000. Institutional investors own 73.58% of the company’s stock.

NASDAQ:CELG opened at $74.02 on Friday. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99. The company has a market cap of $52.77 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.47 and a beta of 1.53. Celgene Co. has a fifty-two week low of $70.09 and a fifty-two week high of $110.81.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. As a group, equities analysts forecast that Celgene Co. will post 7.45 EPS for the current year.

CELG has been the subject of a number of recent analyst reports. Leerink Swann set a $112.00 price target on shares of Celgene and gave the stock a “hold” rating in a report on Friday, October 26th. BidaskClub downgraded shares of Celgene from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research downgraded shares of Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Mizuho restated a “buy” rating and set a $129.00 price target on shares of Celgene in a report on Tuesday, July 31st. Finally, Morgan Stanley raised their price target on shares of Celgene from $91.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $117.91.

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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.

See Also: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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