TCW Group Inc. Has $58.91 Million Stake in Celgene Co. (CELG)

TCW Group Inc. cut its holdings in shares of Celgene Co. (NASDAQ:CELG) by 42.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 658,335 shares of the biopharmaceutical company’s stock after selling 482,145 shares during the period. TCW Group Inc. owned approximately 0.09% of Celgene worth $58,914,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CELG. Edgewood Management LLC grew its position in shares of Celgene by 16.2% during the 2nd quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock valued at $1,105,887,000 after acquiring an additional 1,943,607 shares during the period. Renaissance Technologies LLC grew its position in shares of Celgene by 60.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock valued at $327,960,000 after acquiring an additional 1,558,600 shares during the period. FMR LLC grew its position in shares of Celgene by 14.8% during the 2nd quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock valued at $648,067,000 after acquiring an additional 1,051,528 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Celgene during the 3rd quarter valued at about $79,931,000. Finally, Swedbank grew its position in shares of Celgene by 25.0% during the 2nd quarter. Swedbank now owns 3,881,075 shares of the biopharmaceutical company’s stock valued at $308,235,000 after acquiring an additional 777,099 shares during the period. Hedge funds and other institutional investors own 72.98% of the company’s stock.

Several equities research analysts recently issued reports on CELG shares. Leerink Swann set a $112.00 price objective on Celgene and gave the stock a “hold” rating in a report on Friday, October 26th. Mizuho reiterated a “buy” rating and issued a $118.00 price objective on shares of Celgene in a report on Tuesday, July 10th. Zacks Investment Research cut Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. BidaskClub upgraded Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Morgan Stanley lifted their price objective on Celgene from $91.00 to $93.00 and gave the stock an “equal weight” rating in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Celgene has an average rating of “Buy” and an average target price of $117.91.

CELG opened at $72.34 on Wednesday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.99 and a current ratio of 2.13. Celgene Co. has a 1-year low of $70.09 and a 1-year high of $110.81. The company has a market capitalization of $50.66 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.42 and a beta of 1.30.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.83 billion. Sell-side analysts forecast that Celgene Co. will post 7.76 EPS for the current fiscal year.

In other news, Director Ernest Mario sold 12,000 shares of Celgene stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the sale, the director now owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John H. Weiland purchased 5,575 shares of Celgene stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average cost of $89.73 per share, for a total transaction of $500,244.75. The disclosure for this purchase can be found here. Company insiders own 0.39% of the company’s stock.

Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of 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, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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