Celgene Co. (CELG) Stake Lessened by Chemical Bank

Chemical Bank reduced its position in shares of Celgene Co. (NASDAQ:CELG) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,184 shares of the biopharmaceutical company’s stock after selling 841 shares during the period. Chemical Bank’s holdings in Celgene were worth $822,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Edgewood Management LLC raised its stake in Celgene by 16.2% during the 2nd quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock worth $1,105,887,000 after acquiring an additional 1,943,607 shares in the last quarter. FMR LLC raised its stake in Celgene by 14.8% during the 2nd quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock worth $648,067,000 after acquiring an additional 1,051,528 shares in the last quarter. Renaissance Technologies LLC raised its stake in Celgene by 60.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock worth $327,960,000 after acquiring an additional 1,558,600 shares in the last quarter. American Century Companies Inc. raised its stake in Celgene by 3.3% during the 3rd quarter. American Century Companies Inc. now owns 3,874,067 shares of the biopharmaceutical company’s stock worth $346,690,000 after acquiring an additional 124,912 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Celgene by 11.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,648,481 shares of the biopharmaceutical company’s stock worth $210,342,000 after acquiring an additional 268,597 shares in the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Shares of Celgene stock opened at $74.02 on Friday. Celgene Co. has a 52-week low of $70.09 and a 52-week high of $110.81. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06. The stock has a market cap of $52.77 billion, a PE ratio of 10.82, a PEG ratio of 0.47 and a beta of 1.53.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.83 billion. Equities analysts anticipate that Celgene Co. will post 7.45 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Saturday. Mizuho set a $117.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Tuesday, October 30th. UBS Group set a $94.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Saturday, October 27th. Leerink Swann set a $112.00 price target on shares of Celgene and gave the stock a “hold” rating in a research note on Friday, October 26th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a research note on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $117.91.

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Celgene Company 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.

Further Reading: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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