HBK Investments L P Purchases New Position in Celgene (CELG)

HBK Investments L P purchased a new position in shares of Celgene (NASDAQ:CELG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 89,634 shares of the biopharmaceutical company’s stock, valued at approximately $9,354,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC acquired a new stake in shares of Celgene during the 4th quarter worth about $101,000. Arcadia Investment Management Corp MI boosted its stake in shares of Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the last quarter. Robecosam AG acquired a new stake in shares of Celgene during the 3rd quarter worth about $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene during the 3rd quarter worth about $119,000. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Celgene during the 4th quarter worth about $120,000. 78.63% of the stock is currently owned by institutional investors.

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Shares of NASDAQ:CELG opened at $89.40 on Monday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene has a 52-week low of $84.25 and a 52-week high of $147.17. The company has a market capitalization of $67,500.23, a price-to-earnings ratio of 13.07, a PEG ratio of 0.60 and a beta of 1.49.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the company earned $1.61 earnings per share. Celgene’s revenue for the quarter was up 16.9% on a year-over-year basis. analysts anticipate that Celgene will post 7.66 EPS for the current fiscal year.

Celgene announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other Celgene news, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now owns 94,801 shares of the company’s stock, valued at $9,099,947.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 in the last ninety days. 0.95% of the stock is owned by corporate insiders.

Several research firms have issued reports on CELG. Vetr cut shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price target on the stock. in a research note on Monday, December 18th. Citigroup reiterated a “hold” rating on shares of Celgene in a report on Friday, December 22nd. Credit Suisse Group set a $123.00 price objective on shares of Celgene and gave the stock a “buy” rating in a report on Friday, December 22nd. Stifel Nicolaus cut their price objective on shares of Celgene from $149.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, December 22nd. Finally, Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the stock a “hold” rating in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Celgene currently has a consensus rating of “Hold” and an average target price of $126.95.

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Celgene 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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