Sumitomo Life Insurance Co. reduced its holdings in shares of Celgene Co. (NASDAQ:CELG) by 31.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,560 shares of the biopharmaceutical company’s stock after selling 11,016 shares during the period. Sumitomo Life Insurance Co.’s holdings in Celgene were worth $2,317,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bruderman Asset Management LLC purchased a new stake in shares of Celgene during the fourth quarter valued at approximately $25,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Celgene during the fourth quarter valued at approximately $25,000. Athena Capital Advisors LLC purchased a new stake in shares of Celgene during the fourth quarter valued at approximately $27,000. Liberty Wealth Management LLC purchased a new stake in shares of Celgene during the fourth quarter valued at approximately $29,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Celgene during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.
Several research firms have weighed in on CELG. Mizuho set a $103.00 price target on shares of Celgene and gave the stock a “buy” rating in a research report on Friday, April 5th. Cantor Fitzgerald downgraded shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price target on the stock. in a research report on Friday, April 5th. ValuEngine upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. William Blair downgraded shares of Celgene from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st. Finally, Sanford C. Bernstein downgraded shares of Celgene from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $99.41.
Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, January 31st. The biopharmaceutical company reported $2.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.98 billion. Celgene had a net margin of 26.48% and a return on equity of 114.66%. During the same period last year, the firm earned $2.00 EPS. On average, equities analysts forecast that Celgene Co. will post 10.01 EPS for the current fiscal year.
In other Celgene news, Director James J. Loughlin sold 23,466 shares of Celgene stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the completion of the transaction, the director now directly owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ernest Mario acquired 2,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was acquired at an average cost of $89.99 per share, with a total value of $179,980.00. The disclosure for this purchase can be found here. 0.39% of the stock is owned by company insiders.
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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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