Celgene Co. (CELG) Stake Decreased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its position in shares of Celgene Co. (NASDAQ:CELG) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,134 shares of the biopharmaceutical company’s stock after selling 3,847 shares during the period. Celgene makes up approximately 2.3% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 2nd biggest position. Essex Investment Management Co. LLC’s holdings in Celgene were worth $16,935,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CELG. Janus Henderson Group PLC lifted its stake in Celgene by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after purchasing an additional 8,217,433 shares during the last quarter. BlackRock Inc. lifted its stake in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares during the last quarter. Oaktop Capital Management II L.P. bought a new stake in Celgene in the second quarter worth about $271,605,000. Arrowstreet Capital Limited Partnership lifted its stake in Celgene by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after purchasing an additional 1,787,052 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after purchasing an additional 1,610,056 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Celgene Co. (NASDAQ:CELG) opened at $104.36 on Friday. The company has a market cap of $82,164.41, a P/E ratio of 24.79, a P/E/G ratio of 0.81 and a beta of 1.78. Celgene Co. has a 12 month low of $94.55 and a 12 month high of $147.17. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. analysts forecast that Celgene Co. will post 6.68 EPS for the current fiscal year.

Several brokerages have issued reports on CELG. Stifel Nicolaus decreased their price objective on shares of Celgene from $149.00 to $130.00 and set a “buy” rating for the company in a research note on Saturday. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the stock a “hold” rating in a research note on Friday. Oppenheimer set a $166.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday. Credit Suisse Group set a $123.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho set a $128.00 price target on shares of Celgene and gave the company a “buy” rating in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $132.63.

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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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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