Wright Investors Service Inc. Sells 7,324 Shares of Celgene Co. (NASDAQ:CELG)

Wright Investors Service Inc. lowered its stake in shares of Celgene Co. (NASDAQ:CELG) by 42.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,754 shares of the biopharmaceutical company’s stock after selling 7,324 shares during the period. Wright Investors Service Inc.’s holdings in Celgene were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in CELG. Oregon Public Employees Retirement Fund raised its holdings in Celgene by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 273,716 shares of the biopharmaceutical company’s stock worth $25,302,000 after purchasing an additional 12,071 shares in the last quarter. Capital Management Corp VA acquired a new position in Celgene in the first quarter valued at $10,955,000. Gilman Hill Asset Management LLC increased its stake in Celgene by 18.6% in the second quarter. Gilman Hill Asset Management LLC now owns 7,416 shares of the biopharmaceutical company’s stock valued at $686,000 after purchasing an additional 1,165 shares during the last quarter. Canyon Capital Advisors LLC acquired a new position in Celgene in the first quarter valued at $119,226,000. Finally, Ruffer LLP acquired a new position in Celgene in the first quarter valued at $226,613,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

CELG has been the subject of several analyst reports. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research note on Tuesday, July 23rd. ValuEngine cut Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 3rd. Mizuho reiterated a “buy” rating and set a $103.00 price target on shares of Celgene in a research report on Wednesday, July 3rd. Finally, Barclays cut Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price target on the stock. in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $94.81.

Shares of CELG traded up $0.51 during trading hours on Thursday, hitting $93.40. 88,216 shares of the company were exchanged, compared to its average volume of 4,030,758. The company has a market capitalization of $65.83 billion, a P/E ratio of 12.29, a PEG ratio of 0.44 and a beta of 1.46. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97. The business’s fifty day moving average is $92.75. Celgene Co. has a one year low of $58.59 and a one year high of $98.97.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.17. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.22 billion. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $2.16 EPS. Equities analysts anticipate that Celgene Co. will post 9.96 earnings per share for the current fiscal year.

About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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