Northwest Bancshares Inc. raised its stake in shares of Celgene Co. (NASDAQ:CELG) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,635 shares of the biopharmaceutical company’s stock after purchasing an additional 642 shares during the period. Celgene accounts for approximately 1.3% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 29th biggest position. Northwest Bancshares Inc.’s holdings in Celgene were worth $3,042,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Archford Capital Strategies LLC raised its position in Celgene by 277.8% during the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Liberty Wealth Management LLC grew its holdings in Celgene by 212.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 200 shares during the period. Weaver Consulting Group acquired a new stake in Celgene during the 1st quarter worth about $29,000. Alera Investment Advisors LLC grew its holdings in Celgene by 109.9% during the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 167 shares during the period. Finally, Massey Quick Simon & CO. LLC acquired a new stake in Celgene during the 2nd quarter worth about $33,000. 72.41% of the stock is owned by institutional investors and hedge funds.
In other news, insider Terrie Curran sold 11,338 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $98.27, for a total value of $1,114,185.26. Following the completion of the sale, the insider now directly owns 13,493 shares in the company, valued at approximately $1,325,957.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.
CELG has been the subject of a number of recent analyst reports. ValuEngine downgraded Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Cowen reiterated a “hold” rating and set a $102.00 price target on shares of Celgene in a report on Tuesday, July 30th. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a report on Tuesday, July 23rd. Finally, Mizuho downgraded Celgene from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $103.00 to $100.00 in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $94.60.
Shares of CELG traded up $0.63 during trading hours on Wednesday, hitting $99.51. The stock had a trading volume of 182,150 shares, compared to its average volume of 7,083,785. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.44 and a quick ratio of 3.32. The firm has a 50 day simple moving average of $97.79 and a 200-day simple moving average of $94.92. The firm has a market capitalization of $70.66 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.51 and a beta of 1.42. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $100.42.
Celgene (NASDAQ:CELG) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.17. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.22 billion. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $2.16 EPS. Equities analysts predict that Celgene Co. will post 9.96 EPS for the current fiscal year.
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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