Pinnacle Associates Ltd. lowered its position in Celgene Co. (NASDAQ:CELG) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,286 shares of the biopharmaceutical company’s stock after selling 432 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Celgene were worth $3,632,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CELG. Archford Capital Strategies LLC lifted its holdings in Celgene by 277.8% in the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Liberty Wealth Management LLC lifted its holdings in Celgene by 212.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 200 shares in the last quarter. Investors Research Corp acquired a new position in Celgene in the 1st quarter worth $28,000. Weaver Consulting Group acquired a new position in Celgene in the 1st quarter worth $29,000. Finally, Alera Investment Advisors LLC lifted its holdings in Celgene by 109.9% in the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.

CELG has been the topic of a number of recent analyst reports. Mizuho lowered shares of Celgene from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $103.00 to $100.00 in a report on Monday. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a research note on Tuesday, July 23rd. 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 target price on the stock. in a research note on Friday, May 3rd. Finally, Cowen restated a “hold” rating and issued a $102.00 target price on shares of Celgene in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.60.

CELG traded up $0.21 on Wednesday, hitting $95.47. 44,834 shares of the company’s stock were exchanged, compared to its average volume of 3,844,905. The firm has a market cap of $67.15 billion, a PE ratio of 12.54, a P/E/G ratio of 0.44 and a beta of 1.46. Celgene Co. has a twelve month low of $58.59 and a twelve month high of $98.97. The stock has a fifty day moving average of $93.00 and a two-hundred day moving average of $92.58. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 1.97.

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