Hutchens Investment Management Inc cut its position in Celgene Co. (NASDAQ:CELG) by 23.2% during the 4th quarter, Holdings Channel reports. The firm owned 14,615 shares of the biopharmaceutical company’s stock after selling 4,410 shares during the quarter. Hutchens Investment Management Inc’s holdings in Celgene were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently modified their holdings of CELG. Beach Investment Management LLC. lifted its position in Celgene by 1,935.3% in the 2nd quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock valued at $16,388,000 after purchasing an additional 119,988 shares during the last quarter. Rhumbline Advisers lifted its position in Celgene by 2.5% in the 2nd quarter. Rhumbline Advisers now owns 1,312,360 shares of the biopharmaceutical company’s stock valued at $170,436,000 after purchasing an additional 32,357 shares during the last quarter. Traynor Capital Management Inc. lifted its position in Celgene by 9.3% in the 2nd quarter. Traynor Capital Management Inc. now owns 14,204 shares of the biopharmaceutical company’s stock valued at $1,904,000 after purchasing an additional 1,209 shares during the last quarter. Wedbush Securities Inc. lifted its position in Celgene by 1.9% in the 2nd quarter. Wedbush Securities Inc. now owns 31,477 shares of the biopharmaceutical company’s stock valued at $4,088,000 after purchasing an additional 600 shares during the last quarter. Finally, Grisanti Capital Management LLC acquired a new position in Celgene during the 2nd quarter valued at about $3,616,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.
Several research firms have commented on CELG. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 target price on the stock in a research note on Thursday, January 25th. Mizuho set a $128.00 target price on shares of Celgene and gave the company a “buy” rating in a research note on Tuesday, December 26th. William Blair reissued an “outperform” rating on shares of Celgene in a research note on Friday, October 20th. BTIG Research reissued a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. Finally, BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $130.35.
Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. research analysts expect that Celgene Co. will post 7.68 earnings per share for the current fiscal year.
In other news, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.95% of the company’s stock.
Celgene Company Profile
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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