Jackson Square Partners LLC decreased its position in Celgene Corporation (NASDAQ:CELG) by 5.2% during the third quarter, Holdings Channel reports. The firm owned 9,263,518 shares of the biopharmaceutical company’s stock after selling 503,971 shares during the period. Celgene Corporation comprises about 4.3% of Jackson Square Partners LLC’s investment portfolio, making the stock its 4th largest position. Jackson Square Partners LLC owned about 1.19% of Celgene Corporation worth $968,315,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in CELG. Ngam Advisors L.P. raised its position in shares of Celgene Corporation by 3.6% in the second quarter. Ngam Advisors L.P. now owns 166,196 shares of the biopharmaceutical company’s stock worth $16,392,000 after buying an additional 5,707 shares during the period. SG Americas Securities LLC increased its stake in Celgene Corporation by 175.9% in the third quarter. SG Americas Securities LLC now owns 91,485 shares of the biopharmaceutical company’s stock worth $9,563,000 after buying an additional 212,007 shares in the last quarter. PICTET BANK & TRUST Ltd increased its stake in Celgene Corporation by 16.5% in the third quarter. PICTET BANK & TRUST Ltd now owns 35,445 shares of the biopharmaceutical company’s stock worth $3,705,000 after buying an additional 5,025 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Celgene Corporation by 3.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 346,882 shares of the biopharmaceutical company’s stock worth $36,260,000 after buying an additional 10,568 shares in the last quarter. Finally, Sawgrass Asset Management LLC acquired a new stake in Celgene Corporation during the third quarter worth $31,970,000. 77.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 115.61 on Friday. Celgene Corporation has a 12-month low of $94.39 and a 12-month high of $127.00. The stock has a 50 day moving average price of $116.15 and a 200 day moving average price of $111.71. The firm has a market cap of $89.62 billion, a P/E ratio of 46.43 and a beta of 1.74.
Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, January 26th. The biopharmaceutical company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.02. The business earned $2.98 billion during the quarter, compared to the consensus estimate of $3.03 billion. Celgene Corporation had a return on equity of 77.95% and a net margin of 17.80%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. On average, equities analysts expect that Celgene Corporation will post $7.22 earnings per share for the current year.
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A number of equities research analysts have weighed in on the stock. Vetr downgraded shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $129.09 price target on the stock. in a research note on Wednesday, December 14th. Oppenheimer Holdings, Inc. assumed coverage on shares of Celgene Corporation in a research note on Tuesday, November 29th. They set an “outperform” rating and a $141.00 price target on the stock. Piper Jaffray Companies reiterated a “buy” rating on shares of Celgene Corporation in a research note on Tuesday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $142.00 price target on shares of Celgene Corporation in a research note on Tuesday, December 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $145.00 price target on shares of Celgene Corporation in a research note on Tuesday, December 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $138.78.
About Celgene Corporation
Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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