AT Bancorp increased its position in Celgene (NASDAQ:CELG) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,226 shares of the biopharmaceutical company’s stock after purchasing an additional 2,845 shares during the period. AT Bancorp’s holdings in Celgene were worth $2,608,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CELG. Korea Investment CORP grew its stake in shares of Celgene by 1.6% in the first quarter. Korea Investment CORP now owns 664,446 shares of the biopharmaceutical company’s stock worth $59,275,000 after acquiring an additional 10,681 shares during the last quarter. EULAV Asset Management grew its stake in shares of Celgene by 16.4% in the first quarter. EULAV Asset Management now owns 241,000 shares of the biopharmaceutical company’s stock worth $21,500,000 after acquiring an additional 34,000 shares during the last quarter. Usca Ria LLC grew its stake in shares of Celgene by 148.9% in the first quarter. Usca Ria LLC now owns 8,441 shares of the biopharmaceutical company’s stock worth $753,000 after acquiring an additional 5,050 shares during the last quarter. Timber Hill LLC purchased a new stake in shares of Celgene in the first quarter worth $2,453,000. Finally, Willingdon Wealth Management grew its stake in shares of Celgene by 32.0% in the first quarter. Willingdon Wealth Management now owns 44,644 shares of the biopharmaceutical company’s stock worth $3,983,000 after acquiring an additional 10,817 shares during the last quarter. 75.69% of the stock is currently owned by institutional investors.
NASDAQ CELG opened at $76.61 on Wednesday. The company has a debt-to-equity ratio of 3.92, a quick ratio of 2.36 and a current ratio of 2.53. Celgene has a 52 week low of $74.13 and a 52 week high of $147.17. The stock has a market capitalization of $56.80 billion, a PE ratio of 11.20, a P/E/G ratio of 0.49 and a beta of 1.49.
Celgene declared that its board has approved a stock repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James J. Loughlin sold 9,250 shares of the firm’s 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 sold 50,370 shares of company stock worth $4,297,239 in the last ninety days. Corporate insiders own 0.95% of the company’s stock.
A number of research firms have recently commented on CELG. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Robert W. Baird reaffirmed a “hold” rating and set a $92.00 price target on shares of Celgene in a report on Thursday, March 1st. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. BidaskClub downgraded Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, March 15th. Finally, BMO Capital Markets lowered their price target on Celgene from $144.00 to $139.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target 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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