HCR Wealth Advisors grew its holdings in Celgene Co. (NASDAQ:CELG) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,949 shares of the biopharmaceutical company’s stock after acquiring an additional 824 shares during the quarter. HCR Wealth Advisors’ holdings in Celgene were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Edgewood Management LLC raised its position in Celgene by 16.2% in the 2nd quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock valued at $1,105,887,000 after buying an additional 1,943,607 shares during the last quarter. Jennison Associates LLC raised its position in Celgene by 50.2% in the 3rd quarter. Jennison Associates LLC now owns 8,228,124 shares of the biopharmaceutical company’s stock valued at $736,335,000 after buying an additional 2,748,302 shares during the last quarter. FMR LLC raised its position in Celgene by 14.8% in the 2nd quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock valued at $648,067,000 after buying an additional 1,051,528 shares during the last quarter. Alliancebernstein L.P. raised its position in Celgene by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 4,197,036 shares of the biopharmaceutical company’s stock valued at $375,593,000 after buying an additional 231,231 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Celgene by 60.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock valued at $327,960,000 after buying an additional 1,558,600 shares during the last quarter. 73.87% of the stock is owned by hedge funds and other institutional investors.
CELG has been the topic of a number of recent analyst reports. BidaskClub raised Celgene from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research raised Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 target price on the stock in a report on Wednesday, August 1st. Cantor Fitzgerald initiated coverage on Celgene in a report on Monday, October 1st. They set an “overweight” rating and a $100.00 target price on the stock. Leerink Swann set a $112.00 target price on Celgene and gave the stock a “hold” rating in a report on Friday, October 26th. Finally, UBS Group set a $94.00 price target on Celgene and gave the company a “buy” rating in a research note on Saturday, October 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $116.99.
Shares of CELG opened at $67.71 on Monday. 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 company has a market cap of $46.61 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.41 and a beta of 1.53. Celgene Co. has a 12 month low of $66.62 and a 12 month high of $110.81.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.27. Celgene had a return on equity of 108.76% and a net margin of 19.64%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.83 billion. On average, equities research analysts predict that Celgene Co. will post 7.45 EPS for the current year.
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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.
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