Northwest Bancshares Inc. trimmed its holdings in Celgene Co. (NASDAQ:CELG) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,993 shares of the biopharmaceutical company’s stock after selling 4,435 shares during the quarter. Northwest Bancshares Inc.’s holdings in Celgene were worth $2,773,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CELG. Capital Management Corp VA acquired a new position in Celgene in the 1st quarter valued at $10,955,000. Canyon Capital Advisors LLC acquired a new position in Celgene in the 1st quarter valued at $119,226,000. Tibra Equities Europe Ltd acquired a new position in Celgene in the 1st quarter valued at $6,396,000. Ruffer LLP acquired a new position in Celgene in the 1st quarter valued at $226,613,000. Finally, Global Trust Asset Management LLC increased its stake in Celgene by 212.3% in the 1st quarter. Global Trust Asset Management LLC now owns 4,557 shares of the biopharmaceutical company’s stock valued at $430,000 after buying an additional 3,098 shares during the period. 74.87% of the stock is currently owned by institutional investors and hedge funds.
CELG traded up $0.31 during trading hours on Friday, hitting $92.48. 277,984 shares of the stock were exchanged, compared to its average volume of 3,726,055. The stock has a 50-day simple moving average of $93.93. Celgene Co. has a 12 month low of $58.59 and a 12 month high of $98.97. The firm has a market capitalization of $63.43 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.42 and a beta of 1.45. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.66 and a current ratio of 2.78.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.10. Celgene had a return on equity of 106.69% and a net margin of 30.10%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company earned $2.05 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Celgene Co. will post 9.85 earnings per share for the current fiscal year.
Several brokerages have commented on CELG. BidaskClub upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group restated a “hold” rating on shares of easyJet in a research report on Monday, April 1st. Sanford C. Bernstein restated a “sell” rating on shares of easyJet in a research report on Monday, April 1st. William Blair began coverage on shares of Q2 in a research report on Monday, April 1st. They set an “outperform” rating and a $69.71 target price on the stock. Finally, Atlantic Securities lowered shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 target price on the stock. in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.22.
Celgene Company Profile
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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