CNB Bank Raises Position in Celgene Co. (CELG)

Celgene logo CNB Bank boosted its holdings in Celgene Co. (NASDAQ:CELG) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,401 shares of the biopharmaceutical company’s stock after acquiring an additional 692 shares during the period. CNB Bank’s holdings in Celgene were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Celgene by 9,691.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 16,327,522 shares during the last quarter. Edgewood Management LLC boosted its position in shares of Celgene by 13.2% in the third quarter. Edgewood Management LLC now owns 15,757,525 shares of the biopharmaceutical company’s stock worth $1,410,141,000 after acquiring an additional 1,832,981 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Celgene by 15.3% in the third quarter. Janus Henderson Group PLC now owns 10,461,658 shares of the biopharmaceutical company’s stock worth $936,215,000 after acquiring an additional 1,391,617 shares during the last quarter. FMR LLC boosted its position in shares of Celgene by 26.0% in the third quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after acquiring an additional 2,119,257 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Celgene by 50.2% in the third quarter. Jennison Associates LLC now owns 8,228,124 shares of the biopharmaceutical company’s stock worth $736,335,000 after acquiring an additional 2,748,302 shares during the last quarter. 75.15% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director James J. Loughlin sold 23,466 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the transaction, the director now owns 62,102 shares in the company, valued at $5,420,883.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link . Also, Director Ernest Mario purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was acquired at an average price of $89.99 per share, for a total transaction of $179,980.00. The disclosure for this purchase can be found here . Company insiders own 0.39% of the company’s stock.

NASDAQ CELG opened at $90.69 on Monday. Celgene Co. has a one year low of $58.59 and a one year high of $96.95. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.99 and a current ratio of 2.13. The company has a market capitalization of $63.58 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 0.41 and a beta of 1.72.

Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.07. Celgene had a net margin of 26.48% and a return on equity of 125.35%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter last year, the firm posted $2.00 earnings per share. Equities research analysts predict that Celgene Co. will post 10.01 EPS for the current year.

Several research firms recently issued reports on CELG. Jefferies Financial Group cut shares of Celgene from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, February 1st. Cantor Fitzgerald reissued a “buy” rating and issued a $100.00 target price on shares of Celgene in a research report on Thursday, January 31st. Zacks Investment Research raised shares of Celgene from a “hold” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research report on Wednesday, January 23rd. Robert W. Baird raised shares of Celgene from a “neutral” rating to an “outperform” rating and set a $92.00 target price on the stock in a research report on Friday, January 4th. Finally, BidaskClub raised shares of Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $106.60.

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.

Further Reading: Quiet Period Expirations Explained

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