Celgene Co. (CELG) Shares Bought by Cwm LLC
Cwm LLC boosted its position in shares of Celgene Co. (NASDAQ:CELG) by 9.3% during the 4th quarter, HoldingsChannel reports. The firm owned 46,903 shares of the biopharmaceutical company’s stock after buying an additional 4,004 shares during the quarter. Cwm LLC’s holdings in Celgene were worth $4,895,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. grew its position in Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG purchased a new position in Celgene during the 3rd quarter worth approximately $114,000. Guidant Wealth Advisors purchased a new position in Celgene during the 3rd quarter worth approximately $119,000. Finally, Capital Bank & Trust Co boosted its stake in shares of Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.
A number of equities research analysts have issued reports on CELG shares. Zacks Investment Research lowered shares of Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Robert W. Baird lowered shares of Celgene from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $162.00 to $136.00 in a research note on Friday, October 20th. Citigroup lowered shares of Celgene from a “buy” rating to a “neutral” rating in a research note on Friday, October 20th. Stifel Nicolaus decreased their target price on shares of Celgene from $155.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Finally, UBS Group decreased their target price on shares of Celgene from $153.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $130.35.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 EPS. equities analysts expect that Celgene Co. will post 7.68 earnings per share for the current year.
Celgene declared that its board has authorized a share buyback program on Wednesday, February 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, insider Mark J. Alles bought 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares in the company, valued at $16,441,277.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.95% of the stock is owned by insiders.
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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