Aviance Capital Partners LLC lowered its position in Celgene Co. (NASDAQ:CELG) by 12.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,327 shares of the biopharmaceutical company’s stock after selling 2,270 shares during the quarter. Celgene accounts for about 0.8% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Aviance Capital Partners LLC’s holdings in Celgene were worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Grisanti Capital Management LLC bought a new stake in Celgene during the second quarter valued at about $3,616,000. RiverPoint Capital Management LLC grew its holdings in Celgene by 3.1% during the second quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after purchasing an additional 3,680 shares during the period. LSV Asset Management bought a new stake in Celgene during the second quarter valued at about $1,701,000. Spectrum Management Group Inc. bought a new stake in Celgene during the second quarter valued at about $462,000. Finally, Polen Capital Management LLC grew its holdings in Celgene by 7.7% during the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock valued at $660,128,000 after purchasing an additional 363,108 shares during the period. 79.85% of the stock is owned by institutional investors and hedge funds.

Shares of Celgene Co. (NASDAQ:CELG) opened at $102.65 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. The company has a market capitalization of $81,560.00, a PE ratio of 24.21, a P/E/G ratio of 0.65 and a beta of 1.77. Celgene Co. has a 52-week low of $94.55 and a 52-week high of $147.17.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 earnings per share. analysts anticipate that Celgene Co. will post 6.7 EPS for the current fiscal year.

CELG has been the subject of several recent research reports. Cantor Fitzgerald reissued a “buy” rating and set a $162.00 price target on shares of Celgene in a report on Tuesday, September 26th. Morgan Stanley lowered Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a report on Thursday, October 5th. Royal Bank of Canada reissued a “buy” rating and set a $173.00 price target on shares of Celgene in a report on Thursday, October 5th. Vetr upgraded Celgene from a “hold” rating to a “buy” rating and set a $146.58 price objective on the stock in a research report on Friday, October 6th. Finally, Barclays boosted their price objective on Celgene from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $129.98.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2018/01/21/celgene-co-celg-shares-sold-by-aviance-capital-partners-llc.html.

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.

Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.