BB&T Corp Reduces Stock Position in Celgene Co. (NASDAQ:CELG)
BB&T Corp reduced its holdings in Celgene Co. (NASDAQ:CELG) by 14.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,158 shares of the biopharmaceutical company’s stock after selling 1,411 shares during the period. BB&T Corp’s holdings in Celgene were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of CELG. First PREMIER Bank purchased a new position in shares of Celgene in the 3rd quarter worth $26,000. Liberty Wealth Management LLC grew its stake in shares of 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. B & T Capital Management DBA Alpha Capital Management purchased a new position in shares of Celgene in the 3rd quarter worth $28,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Celgene in the 2nd quarter worth $33,000. Finally, Lenox Wealth Advisors LLC purchased a new position in shares of Celgene in the 3rd quarter worth $37,000. 72.31% of the stock is owned by institutional investors and hedge funds.
CELG has been the subject of a number of recent analyst reports. Robert W. Baird cut shares of Celgene from an “outperform” rating to a “neutral” rating and set a $101.00 price target for the company. in a research note on Friday, November 1st. Wells Fargo & Co set a $110.00 price target on shares of Celgene and gave the stock a “hold” rating in a research note on Friday, November 1st. ValuEngine cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. BidaskClub raised shares of Celgene from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Cowen reaffirmed a “hold” rating and set a $102.00 price target on shares of Celgene in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $97.31.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.29. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Celgene had a net margin of 34.63% and a return on equity of 78.15%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. Sell-side analysts forecast that Celgene Co. will post 10.7 EPS for the current year.
In other Celgene news, insider Terrie Curran sold 11,338 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were 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 directly owns 13,493 shares of the company’s stock, valued at approximately $1,325,957.11. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.
Celgene Company Profile
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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