Comerica Bank Sells 6,015 Shares of Celgene Co. (CELG)

Comerica Bank trimmed its holdings in shares of Celgene Co. (NASDAQ:CELG) by 4.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 137,925 shares of the biopharmaceutical company’s stock after selling 6,015 shares during the quarter. Comerica Bank’s holdings in Celgene were worth $13,011,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CELG. Altium Wealth Management LLC increased its stake in shares of Celgene by 1.3% in the first quarter. Altium Wealth Management LLC now owns 8,980 shares of the biopharmaceutical company’s stock worth $847,000 after buying an additional 115 shares during the last quarter. Janney Capital Management LLC increased its stake in shares of Celgene by 2.9% in the fourth quarter. Janney Capital Management LLC now owns 4,219 shares of the biopharmaceutical company’s stock worth $270,000 after buying an additional 120 shares during the last quarter. Community Bank N.A. increased its stake in shares of Celgene by 3.2% in the first quarter. Community Bank N.A. now owns 3,922 shares of the biopharmaceutical company’s stock worth $370,000 after buying an additional 120 shares during the last quarter. Iberiabank Corp increased its stake in shares of Celgene by 1.0% in the first quarter. Iberiabank Corp now owns 12,019 shares of the biopharmaceutical company’s stock worth $1,134,000 after buying an additional 121 shares during the last quarter. Finally, Pitcairn Co. increased its stake in shares of Celgene by 3.0% in the fourth quarter. Pitcairn Co. now owns 4,289 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 124 shares during the last quarter. 72.01% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the stock. Cantor Fitzgerald lowered shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Friday, April 5th. ValuEngine lowered shares of Celgene from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. BidaskClub lowered shares of Celgene from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Cowen assumed coverage on shares of Celgene in a research note on Tuesday, February 26th. They set a “market perform” rating and a $102.00 target price for the company. Finally, Zacks Investment Research lowered shares of Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Twenty research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $95.96.



Shares of CELG opened at $94.05 on Tuesday. Celgene Co. has a 1 year low of $58.59 and a 1 year high of $97.07. The firm has a market cap of $67.36 billion, a PE ratio of 12.36, a PEG ratio of 0.44 and a beta of 1.68. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.78 and a quick ratio of 2.66.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Celgene Co. will post 9.85 earnings per share for the current year.

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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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