Morse Asset Management Inc reduced its holdings in Celgene Co. (NASDAQ:CELG) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,122 shares of the biopharmaceutical company’s stock after selling 2,068 shares during the period. Morse Asset Management Inc’s holdings in Celgene were worth $2,415,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. FMR LLC increased its stake in Celgene by 89.3% in the 1st quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock valued at $1,571,387,000 after buying an additional 7,856,422 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Celgene by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock worth $636,179,000 after purchasing an additional 787,638 shares during the last quarter. Abrams Capital Management L.P. acquired a new position in shares of Celgene during the 1st quarter worth about $637,066,000. American Century Companies Inc. increased its stake in shares of Celgene by 4.7% during the 1st quarter. American Century Companies Inc. now owns 3,865,722 shares of the biopharmaceutical company’s stock worth $364,692,000 after purchasing an additional 172,466 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Celgene by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,990,147 shares of the biopharmaceutical company’s stock worth $282,090,000 after purchasing an additional 28,374 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Several research firms have recently weighed in on CELG. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 3rd. Barclays lowered shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective on the stock. in a research note on Friday, May 3rd. ValuEngine lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Cowen restated a “hold” rating and set a $102.00 price objective on shares of Celgene in a research note on Tuesday, July 30th. Finally, Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. Celgene currently has an average rating of “Hold” and a consensus target price of $94.81.

CELG traded up $0.16 on Tuesday, reaching $94.23. The company had a trading volume of 234,159 shares, compared to its average volume of 3,998,600. Celgene Co. has a fifty-two week low of $58.59 and a fifty-two week high of $98.97. The firm has a market cap of $66.70 billion, a PE ratio of 12.37, a P/E/G ratio of 0.44 and a beta of 1.46. The firm’s fifty day simple moving average is $92.74. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.32 and a current ratio of 3.44.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.17. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the business earned $2.16 EPS. Celgene’s quarterly revenue was up 15.4% on a year-over-year basis. Research analysts forecast that Celgene Co. will post 9.96 earnings per share for the current fiscal year.

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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