Principle Wealth Partners LLC Buys 1,150 Shares of Celgene Co. (NASDAQ:CELG)

Principle Wealth Partners LLC boosted its stake in Celgene Co. (NASDAQ:CELG) by 19.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,013 shares of the biopharmaceutical company’s stock after purchasing an additional 1,150 shares during the quarter. Principle Wealth Partners LLC’s holdings in Celgene were worth $696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First PREMIER Bank acquired a new position in Celgene in the third quarter valued at about $26,000. B & T Capital Management DBA Alpha Capital Management acquired a new position in Celgene in the third quarter valued at about $28,000. Liberty Wealth Management LLC grew its stake in Celgene by 212.8% in the second quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in Celgene in the second quarter valued at about $33,000. Finally, Lenox Wealth Advisors LLC acquired a new position in Celgene in the third quarter valued at about $37,000. Institutional investors and hedge funds own 72.31% of the company’s stock.

NASDAQ CELG traded up $0.54 during trading hours on Friday, hitting $109.54. 5,706,800 shares of the company traded hands, compared to its average volume of 6,764,924. The stock has a market capitalization of $76.64 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.51 and a beta of 1.41. The business’s 50-day moving average is $102.54 and its 200-day moving average is $96.76. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.80 and a current ratio of 2.89. Celgene Co. has a twelve month low of $58.59 and a twelve month high of $109.75.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.29. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.39 billion. Celgene had a return on equity of 78.15% and a net margin of 34.63%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Analysts predict that Celgene Co. will post 10.7 EPS for the current year.

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CELG has been the subject of a number of research analyst reports. ValuEngine cut Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Cowen reaffirmed a “hold” rating and set a $102.00 price objective on shares of Celgene in a research report on Tuesday, July 30th. Wells Fargo & Co set a $110.00 price objective on Celgene and gave the stock a “hold” rating in a research report on Friday, November 1st. Mizuho reaffirmed a “hold” rating and set a $100.00 price objective on shares of Celgene in a research report on Sunday, October 20th. Finally, BidaskClub raised Celgene from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $97.31.

In related news, insider Terrie Curran sold 11,338 shares of the firm’s stock in a transaction on 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 owns 13,493 shares of the company’s stock, valued at $1,325,957.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

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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