First Financial Bank Trust Division Increases Position in Celgene Co. (CELG)
First Financial Bank Trust Division boosted its holdings in shares of Celgene Co. (NASDAQ:CELG) by 39.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,270 shares of the biopharmaceutical company’s stock after acquiring an additional 7,413 shares during the period. First Financial Bank Trust Division’s holdings in Celgene were worth $3,831,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Neuberger Berman Group LLC grew its stake in shares of Celgene by 4.0% in the 1st quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after buying an additional 71,729 shares during the period. Grisanti Capital Management LLC purchased a new stake in shares of Celgene in the 2nd quarter valued at approximately $3,616,000. Lincoln Capital Corp grew its stake in shares of Celgene by 0.6% in the 2nd quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock valued at $3,971,000 after buying an additional 185 shares during the period. RiverPoint Capital Management LLC grew its stake in shares of Celgene by 3.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after buying an additional 3,680 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Celgene by 9.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock valued at $83,344,000 after buying an additional 54,210 shares during the period. 79.84% of the stock is owned by institutional investors.
CELG has been the subject of several analyst reports. BMO Capital Markets increased their price target on shares of Celgene from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Oppenheimer reissued a “buy” rating and issued a $170.00 price target on shares of Celgene in a research note on Friday, October 20th. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price target for the company in a research note on Monday, October 23rd. Cann reissued a “buy” rating on shares of Celgene in a research note on Thursday, October 26th. Finally, Morgan Stanley raised shares of Celgene from an “underweight” rating to an “equal weight” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Celgene presently has a consensus rating of “Buy” and an average target price of $136.21.
Shares of Celgene Co. (CELG) opened at $108.27 on Thursday. The stock has a market cap of $85,240.00, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 0.84 and a beta of 1.77. Celgene Co. has a fifty-two week low of $94.55 and a fifty-two week 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.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 EPS. equities analysts predict that Celgene Co. will post 6.68 earnings per share for the current year.
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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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