Celgene Co. (NASDAQ:CELG) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its stake in shares of Celgene Co. (NASDAQ:CELG) by 49.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,859 shares of the biopharmaceutical company’s stock after selling 5,786 shares during the quarter. Wedbush Securities Inc.’s holdings in Celgene were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its position in Celgene by 89.3% in the first quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock worth $1,571,387,000 after buying an additional 7,856,422 shares during the last quarter. Geode Capital Management LLC grew its position in Celgene by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock worth $636,179,000 after buying an additional 787,638 shares during the last quarter. Abrams Capital Management L.P. acquired a new position in Celgene in the first quarter worth approximately $637,066,000. American Century Companies Inc. grew its position in Celgene by 4.7% in the first quarter. American Century Companies Inc. now owns 3,865,722 shares of the biopharmaceutical company’s stock worth $364,692,000 after buying an additional 172,466 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Celgene by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,990,147 shares of the biopharmaceutical company’s stock worth $282,090,000 after buying an additional 28,374 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Several research firms have issued reports on CELG. ValuEngine lowered shares of Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. BidaskClub raised shares of Celgene from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 3rd. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective for the company in a research note on Tuesday, July 23rd. Mizuho reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Celgene in a research note on Wednesday, July 3rd. Finally, Barclays lowered shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective for the company. in a research note on Friday, May 3rd. Two research 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’s stock. Celgene currently has an average rating of “Hold” and an average target price of $94.81.



Shares of NASDAQ:CELG traded up $1.18 during trading on Friday, reaching $94.49. 822,810 shares of the company traded hands, compared to its average volume of 3,993,777. The firm has a fifty day simple moving average of $92.76 and a 200 day simple moving average of $92.50. The firm has a market cap of $66.31 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $98.97. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97.

Celgene (NASDAQ:CELG) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.17. The company had revenue of $4.40 billion during 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%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. As a group, research analysts anticipate that Celgene Co. will post 9.96 EPS for the current year.

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.

Further Reading: What are the economic characteristics of a bear market?

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.