Worldquant Millennium Quantitative Strategies LLC Purchases Shares of 95,944 Celgene Co. (CELG)

Worldquant Millennium Quantitative Strategies LLC purchased a new stake in Celgene Co. (NASDAQ:CELG) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 95,944 shares of the biopharmaceutical company’s stock, valued at approximately $7,620,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Archford Capital Strategies LLC acquired a new stake in Celgene during the first quarter worth about $124,000. Ayalon Holdings Ltd. acquired a new stake in Celgene during the second quarter worth about $100,000. Acropolis Investment Management LLC acquired a new stake in Celgene during the second quarter worth about $112,000. Sun Life Financial INC grew its stake in Celgene by 528.9% during the second quarter. Sun Life Financial INC now owns 1,918 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 1,613 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC acquired a new stake in Celgene during the first quarter worth about $281,000. Institutional investors and hedge funds own 73.11% of the company’s stock.

A number of brokerages have issued reports on CELG. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price objective on the stock in a research note on Wednesday, August 1st. Mizuho reiterated a “buy” rating and set a $129.00 price objective on shares of Celgene in a research note on Tuesday, July 31st. BidaskClub upgraded shares of Celgene from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Morgan Stanley increased their price objective on shares of Celgene from $91.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Finally, SunTrust Banks reiterated a “hold” rating and set a $101.00 price objective on shares of Celgene in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Celgene has an average rating of “Buy” and an average price target of $121.85.

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

Shares of NASDAQ CELG opened at $87.17 on Friday. The company has a market capitalization of $61.05 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.52 and a beta of 1.32. Celgene Co. has a 1 year low of $74.13 and a 1 year high of $147.17. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.52 and a quick ratio of 1.40.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.70 billion. Celgene had a net margin of 19.81% and a return on equity of 87.28%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $1.82 EPS. analysts forecast that Celgene Co. will post 7.64 earnings per share for the current fiscal year.

Celgene declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About Celgene

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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