NorthCoast Asset Management LLC Invests $18.06 Million in Celgene Co. (CELG) Stock

NorthCoast Asset Management LLC acquired a new position in Celgene Co. (NASDAQ:CELG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 123,867 shares of the biopharmaceutical company’s stock, valued at approximately $18,062,000. Celgene makes up approximately 2.1% of NorthCoast Asset Management LLC’s investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors have also modified their holdings of the business. Thompson Davis & CO. Inc. increased its holdings in Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares during the period. Arcadia Investment Management Corp MI increased its holdings in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the period. Robecosam AG bought a new position in Celgene in the 3rd quarter valued at about $114,000. Guidant Wealth Advisors bought a new position in Celgene in the 3rd quarter valued at about $119,000. Finally, Motco increased its holdings in Celgene by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 79.54% of the company’s stock.

Shares of Celgene Co. (NASDAQ:CELG) opened at $102.65 on Monday. Celgene Co. has a 1-year low of $94.55 and a 1-year high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31. The firm has a market cap of $80,818.09, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 0.65 and a beta of 1.77.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities analysts predict that Celgene Co. will post 6.71 earnings per share for the current fiscal year.

Several equities analysts have commented on CELG shares. Cantor Fitzgerald reissued a “buy” rating and issued a $162.00 target price on shares of Celgene in a report on Tuesday, September 26th. Vetr raised shares of Celgene from a “hold” rating to a “buy” rating and set a $146.58 target price on the stock in a report on Friday, October 6th. Royal Bank of Canada reissued a “buy” rating and issued a $173.00 target price on shares of Celgene in a report on Thursday, October 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Celgene in a report on Monday, October 16th. Finally, Jefferies Group reissued a “buy” rating and issued a $160.00 target price on shares of Celgene in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Celgene presently has an average rating of “Buy” and a consensus price target of $129.98.

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About Celgene

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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