Private Capital Group LLC Trims Holdings in Celgene Co. (CELG)

Private Capital Group LLC cut its stake in Celgene Co. (NASDAQ:CELG) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,279 shares of the biopharmaceutical company’s stock after selling 1,235 shares during the period. Private Capital Group LLC’s holdings in Celgene were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CELG. Webster Bank N. A. raised its stake in shares of Celgene by 411.5% in the 4th quarter. Webster Bank N. A. now owns 24,139 shares of the biopharmaceutical company’s stock valued at $2,519,000 after buying an additional 19,420 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Celgene during the 4th quarter worth about $575,000. Rothschild Investment Corp IL increased its position in shares of Celgene by 6.3% during the 4th quarter. Rothschild Investment Corp IL now owns 89,497 shares of the biopharmaceutical company’s stock worth $9,340,000 after purchasing an additional 5,300 shares in the last quarter. Duncker Streett & Co. Inc. increased its position in shares of Celgene by 15.6% during the 4th quarter. Duncker Streett & Co. Inc. now owns 12,185 shares of the biopharmaceutical company’s stock worth $1,272,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Northstar Group Inc. increased its position in shares of Celgene by 45.1% during the 4th quarter. Northstar Group Inc. now owns 3,783 shares of the biopharmaceutical company’s stock worth $395,000 after purchasing an additional 1,175 shares in the last quarter. 75.30% of the stock is owned by hedge funds and other institutional investors.

In related news, Director James J. Loughlin sold 17,750 shares of Celgene stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $78.96, for a total transaction of $1,401,540.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 27,750 shares of Celgene stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $78.66, for a total transaction of $2,182,815.00. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock worth $4,608,365 in the last ninety days. Insiders own 0.39% of the company’s stock.



A number of equities research analysts recently issued reports on the stock. Standpoint Research upgraded shares of Celgene from a “hold” rating to a “buy” rating in a research report on Monday. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the stock a “hold” rating in a research report on Friday, June 1st. Canaccord Genuity reiterated a “buy” rating on shares of Celgene in a research report on Wednesday, May 30th. SunTrust Banks dropped their target price on shares of Celgene from $106.00 to $96.00 and set a “hold” rating for the company in a research report on Tuesday, May 29th. Finally, BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, May 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Celgene currently has a consensus rating of “Buy” and a consensus price target of $123.02.

Shares of NASDAQ CELG opened at $79.14 on Friday. The stock has a market capitalization of $57.82 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.50 and a beta of 1.45. 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 Co. has a 1 year low of $74.13 and a 1 year high of $147.17.

Celgene (NASDAQ:CELG) last issued its earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.09. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.47 billion. Celgene had a net margin of 20.73% and a return on equity of 72.92%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 EPS. analysts expect that Celgene Co. will post 7.63 EPS for the current year.

Celgene declared that its board has authorized a stock repurchase program on Thursday, May 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Celgene

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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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