Inlet Private Wealth LLC boosted its holdings in Celgene Co. (NASDAQ:CELG) by 44.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 30,605 shares of the biopharmaceutical company’s stock after buying an additional 9,450 shares during the period. Celgene accounts for approximately 1.2% of Inlet Private Wealth LLC’s holdings, making the stock its 24th biggest position. Inlet Private Wealth LLC’s holdings in Celgene were worth $2,887,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CELG. Oregon Public Employees Retirement Fund lifted its holdings in shares of Celgene by 9,691.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock valued at $257,000 after acquiring an additional 16,327,522 shares during the last quarter. Norges Bank bought a new stake in Celgene in the fourth quarter worth about $484,390,000. Parnassus Investments CA lifted its stake in Celgene by 1,766.7% in the fourth quarter. Parnassus Investments CA now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $179,452,000 after purchasing an additional 2,650,000 shares during the last quarter. BlackRock Inc. lifted its stake in Celgene by 2.8% in the fourth quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock worth $3,438,486,000 after purchasing an additional 1,459,100 shares during the last quarter. Finally, Ellis Investment Partners LLC lifted its stake in Celgene by 9,377.1% in the first quarter. Ellis Investment Partners LLC now owns 1,327,458 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 1,313,451 shares during the last quarter. Institutional investors and hedge funds own 71.71% of the company’s stock.
NASDAQ CELG traded up $0.11 on Wednesday, hitting $96.36. The stock had a trading volume of 3,014,300 shares, compared to its average volume of 10,142,178. The company has a current ratio of 2.78, a quick ratio of 2.66 and a debt-to-equity ratio of 2.42. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $97.07. The firm has a market capitalization of $67.73 billion, a P/E ratio of 12.66, a P/E/G ratio of 0.44 and a beta of 1.68.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Celgene Co. will post 9.85 earnings per share for the current fiscal year.
Several analysts have issued reports on the stock. Mizuho reissued a “buy” rating and issued a $103.00 price objective on shares of Celgene in a research note on Thursday, May 16th. ValuEngine raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Barclays downgraded shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price target for the company. in a research note on Friday, May 3rd. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Cantor Fitzgerald downgraded shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price target for the company. in a research note on Friday, April 5th. Twenty equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $95.96.
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Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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