Kamunting Street Capital Management L.P. purchased a new position in Celgene Co. (NASDAQ:CELG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,148,000. Celgene accounts for about 0.8% of Kamunting Street Capital Management L.P.’s portfolio, making the stock its 22nd largest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CELG. Lockheed Martin Investment Management Co. lifted its stake in Celgene by 40.0% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 14,000 shares of the biopharmaceutical company’s stock valued at $2,041,000 after buying an additional 4,000 shares in the last quarter. Sigma Planning Corp lifted its stake in Celgene by 399.8% in the 3rd quarter. Sigma Planning Corp now owns 19,834 shares of the biopharmaceutical company’s stock valued at $2,892,000 after buying an additional 15,866 shares in the last quarter. Howland Capital Management LLC lifted its stake in Celgene by 8.6% in the 3rd quarter. Howland Capital Management LLC now owns 156,853 shares of the biopharmaceutical company’s stock valued at $22,872,000 after buying an additional 12,455 shares in the last quarter. Haverford Trust Co. purchased a new stake in Celgene in the 3rd quarter valued at approximately $378,000. Finally, Alliance Wealth Management Group purchased a new stake in Celgene in the 3rd quarter valued at approximately $360,000. Institutional investors and hedge funds own 78.63% of the company’s stock.
Shares of NASDAQ CELG opened at $89.74 on Friday. Celgene Co. has a 12-month low of $84.25 and a 12-month high of $147.17. The firm has a market capitalization of $67,274.59, a P/E ratio of 13.12, a P/E/G ratio of 0.60 and a beta of 1.49. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80.
Celgene announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently issued reports on CELG. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the company a “hold” rating in a research note on Tuesday, January 23rd. ValuEngine lowered Celgene from a “hold” rating to a “sell” rating in a research note on Thursday. Deutsche Bank set a $110.00 target price on Celgene and gave the company a “hold” rating in a research note on Monday, January 8th. Robert W. Baird reissued a “hold” rating and set a $92.00 price target on shares of Celgene in a research note on Thursday, March 1st. Finally, SunTrust Banks set a $127.00 price target on Celgene and gave the stock a “buy” rating in a research note on Monday, January 8th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $127.68.
In other news, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $94.49, for a total transaction of $1,263,331.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark J. Alles bought 3,260 shares of the stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 41,120 shares of company stock valued at $3,879,509. 0.95% of the stock is owned by insiders.
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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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