First Dallas Securities Inc. raised its holdings in shares of Celgene Co. (NASDAQ:CELG) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,663 shares of the biopharmaceutical company’s stock after acquiring an additional 875 shares during the period. First Dallas Securities Inc.’s holdings in Celgene were worth $278,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fort Pitt Capital Group LLC lifted its stake in shares of Celgene by 0.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock valued at $250,000 after purchasing an additional 11 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Celgene by 0.9% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 26 shares during the period. Linscomb & Williams Inc. lifted its stake in shares of Celgene by 1.0% in the 2nd quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 36 shares during the period. Courier Capital LLC lifted its stake in shares of Celgene by 1.9% in the 2nd quarter. Courier Capital LLC now owns 1,987 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 38 shares during the period. Finally, RNC Capital Management LLC lifted its stake in shares of Celgene by 0.9% in the 2nd quarter. RNC Capital Management LLC now owns 5,270 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 78.60% of the company’s stock.
In related news, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were 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 directly 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 three months, insiders have sold 41,120 shares of company stock worth $3,879,509. Corporate insiders own 0.95% of the company’s stock.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. analysts expect that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has approved a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Several research firms recently issued reports on CELG. BidaskClub cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Leerink Swann reiterated a “buy” rating and issued a $120.00 target price on shares of Celgene in a research note on Friday, December 22nd. BTIG Research reissued a “hold” rating on shares of Celgene in a report on Tuesday, January 23rd. UBS set a $106.00 price target on shares of Celgene and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, William Blair reissued a “buy” rating on shares of Celgene in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $128.22.
Celgene Company Profile
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.
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