Fred Alger Management Inc. Has $364.80 Million Stake in Celgene Corporation (CELG)
Fred Alger Management Inc. grew its position in Celgene Corporation (NASDAQ:CELG) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,808,952 shares of the biopharmaceutical company’s stock after buying an additional 147,206 shares during the quarter. Celgene accounts for about 1.7% of Fred Alger Management Inc.’s portfolio, making the stock its 11th largest holding. Fred Alger Management Inc. owned about 0.36% of Celgene worth $364,799,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after buying an additional 3,084,227 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Celgene by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares during the last quarter. State Street Corp grew its holdings in shares of Celgene by 2.3% during the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after purchasing an additional 723,844 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Celgene by 1.2% during the 2nd quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock valued at $1,742,301,000 after purchasing an additional 156,864 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Celgene by 5.9% during the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock valued at $1,635,643,000 after purchasing an additional 697,250 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.
Shares of Celgene Corporation (NASDAQ CELG) opened at $102.56 on Wednesday. Celgene Corporation has a 1-year low of $94.55 and a 1-year high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31. The firm has a market cap of $80,786.59, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.79 and a beta of 1.78.
Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities analysts predict that Celgene Corporation will post 6.67 earnings per share for the current fiscal year.
In other news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total value of $1,309,430.00. Following the sale, the director now directly owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $148.32 price target on the stock in a report on Thursday, August 10th. UBS lowered shares of Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 price target on the stock. in a report on Thursday, October 26th. BMO Capital Markets decreased their price target on shares of Celgene from $163.00 to $148.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and set a $160.00 price target on shares of Celgene in a report on Friday, September 15th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Celgene in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $139.57.
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Celgene Company Profile
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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