Axa Sells 112,063 Shares of Celgene Co. (NASDAQ:CELG)

Axa decreased its holdings in shares of Celgene Co. (NASDAQ:CELG) by 15.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,435 shares of the biopharmaceutical company’s stock after selling 112,063 shares during the period. Axa’s holdings in Celgene were worth $58,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CELG. FMR LLC grew its position in shares of Celgene by 89.3% during the 1st quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock valued at $1,571,387,000 after acquiring an additional 7,856,422 shares during the period. Abrams Capital Management L.P. purchased a new position in shares of Celgene during the 1st quarter valued at $637,066,000. Renaissance Technologies LLC lifted its stake in shares of Celgene by 85.7% during the 2nd quarter. Renaissance Technologies LLC now owns 8,935,785 shares of the biopharmaceutical company’s stock valued at $826,024,000 after buying an additional 4,122,685 shares in the last quarter. Ruffer LLP purchased a new position in shares of Celgene during the 1st quarter valued at $226,613,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of Celgene during the 1st quarter valued at $202,076,000. 72.51% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on CELG. Mizuho cut shares of Celgene from a “buy” rating to a “neutral” rating and lowered their target price for the company from $103.00 to $100.00 in a research note on Monday, August 19th. BidaskClub cut shares of Celgene from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a research note on Tuesday, July 23rd. ValuEngine cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, Cowen restated a “hold” rating and set a $102.00 target price on shares of Celgene in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $94.60.

Shares of CELG stock opened at $98.63 on Friday. The stock has a market cap of $69.21 billion, a P/E ratio of 10.71, a PEG ratio of 0.46 and a beta of 1.41. Celgene Co. has a 52 week low of $58.59 and a 52 week high of $99.06. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97. The company’s fifty day simple moving average is $94.93 and its two-hundred day simple moving average is $93.38.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.44 by $0.17. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 EPS. On average, analysts anticipate that Celgene Co. will post 9.96 EPS for the current fiscal year.

Celgene 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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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