The Cobiz Investment Management LLC decides to keep it stake in Celgene Corp. (CELG) to the level of $4,735,000

The Cobiz Investment Management LLC decides to keep it stake in Celgene Corp. (CELG) to the level of $4,735,000

Cobiz Investment Management LLC increased its stake in Celgene Corp. (NASDAQ:CELG) by 37.7% during the third quarter, Holdings Channel reports. The institutional investor owned 45,294 shares of the biopharmaceutical company’s stock after buying an additional 12,400 shares during the period. Cobiz Investment Management LLC’s holdings in Celgene Corp. were worth $4,735,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Gradient Investments LLC increased its stake in shares of Celgene Corp. by 0.9% in the third quarter. Gradient Investments LLC now owns 3,123 shares of the biopharmaceutical company’s stock worth $326,000 after buying an additional 29 shares during the last quarter. LGT Capital Partners LTD. acquired a new stake in shares of Celgene Corp. during the third quarter worth $6,935,000. Hills Bank & Trust Co. increased its stake in shares of Celgene Corp. by 154.2% in the third quarter. Hills Bank & Trust Co. now owns 10,205 shares of the biopharmaceutical company’s stock worth $1,066,000 after buying an additional 6,190 shares during the last quarter. E&G Advisors LP increased its stake in shares of Celgene Corp. by 5.5% in the third quarter. E&G Advisors LP now owns 14,318 shares of the biopharmaceutical company’s stock worth $1,497,000 after buying an additional 750 shares during the last quarter. Finally, Bristol John W & Co. Inc. NY increased its stake in shares of Celgene Corp. by 22.4% in the third quarter. Bristol John W & Co. Inc. NY now owns 648,217 shares of the biopharmaceutical company’s stock worth $67,758,000 after buying an additional 118,501 shares during the last quarter. 77.85% of the stock is owned by institutional investors and hedge funds.

Shares of Celgene Corp. (NASDAQ:CELG) traded up 0.17% during trading on Friday, hitting $121.06. 1,792,549 shares of the stock traded hands. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $127.00. The firm’s 50-day moving average price is $108.41 and its 200-day moving average price is $106.51. The stock has a market cap of $93.85 billion, a PE ratio of 45.98 and a beta of 1.71.

Celgene Corp. (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.84 billion. Celgene Corp. had a net margin of 19.71% and a return on equity of 70.48%. The company’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. Analysts anticipate that Celgene Corp. will post $5.92 EPS for the current year.

CELG has been the subject of several research reports. Canaccord Genuity set a $156.00 target price on Celgene Corp. and gave the company a “buy” rating in a research note on Sunday, September 18th. Leerink Swann restated a “market perform” rating and issued a $135.00 target price on shares of Celgene Corp. in a research note on Monday, September 12th. Mizuho initiated coverage on Celgene Corp. in a research note on Monday, November 7th. They issued a “buy” rating and a $130.00 target price for the company. Morgan Stanley restated a “hold” rating and issued a $120.00 target price on shares of Celgene Corp. in a research note on Wednesday, August 3rd. Finally, Cowen and Company restated a “buy” rating and issued a $150.00 target price on shares of Celgene Corp. in a research note on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $136.30.

In related news, Director Gilla Kaplan sold 9,710 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $106.44, for a total transaction of $1,033,532.40. Following the completion of the transaction, the director now directly owns 72,142 shares of the company’s stock, valued at $7,678,794.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Barker sold 20,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $110.82, for a total transaction of $2,216,400.00. Following the transaction, the director now directly owns 31,332 shares of the company’s stock, valued at $3,472,212.24. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

About Celgene Corp.

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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