Anchor Capital Advisors LLC purchased a new position in Celgene Co. (NASDAQ:CELG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,300 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Ayalon Holdings Ltd. purchased a new stake in Celgene during the 2nd quarter valued at $100,000. Atlantic Trust LLC purchased a new stake in Celgene during the 2nd quarter valued at $101,000. Acropolis Investment Management LLC purchased a new stake in Celgene during the 2nd quarter valued at $112,000. Moneta Group Investment Advisors LLC boosted its position in Celgene by 2,688.6% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 9,921 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Celgene during the 3rd quarter valued at $132,000. 72.98% of the stock is currently owned by institutional investors.
NASDAQ:CELG opened at $74.19 on Friday. Celgene Co. has a 12 month low of $70.09 and a 12 month high of $110.81. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99. The stock has a market capitalization of $51.88 billion, a PE ratio of 10.85, a P/E/G ratio of 0.46 and a beta of 1.53.
Several equities research analysts have weighed in on CELG shares. Leerink Swann set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research report on Friday, October 26th. Mizuho reissued a “buy” rating and set a $118.00 price target on shares of Celgene in a research report on Tuesday, July 10th. Zacks Investment Research cut shares of Celgene from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Morgan Stanley increased their price target on shares of Celgene from $91.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $117.91.
In other Celgene news, Director John H. Weiland purchased 5,575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was bought at an average cost of $89.73 per share, for a total transaction of $500,244.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ernest Mario sold 12,000 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the transaction, the director now owns 44,413 shares of the company’s stock, valued at $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
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.
Further Reading: What is a Leveraged Buyout (LBO)?
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