Murphy Capital Management Inc. Reduces Stake in Celgene Co. (NASDAQ:CELG)

Murphy Capital Management Inc. lowered its holdings in Celgene Co. (NASDAQ:CELG) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,635 shares of the biopharmaceutical company’s stock after selling 462 shares during the quarter. Murphy Capital Management Inc.’s holdings in Celgene were worth $1,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in Celgene by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 273,716 shares of the biopharmaceutical company’s stock valued at $25,302,000 after acquiring an additional 12,071 shares during the last quarter. Beddow Capital Management Inc. acquired a new position in Celgene in the second quarter valued at $252,000. Gilman Hill Asset Management LLC lifted its stake in shares of Celgene by 18.6% during the second quarter. Gilman Hill Asset Management LLC now owns 7,416 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 1,165 shares in the last quarter. Canyon Capital Advisors LLC acquired a new position in shares of Celgene during the first quarter worth about $119,226,000. Finally, Gyroscope Capital Management Group LLC lifted its stake in shares of Celgene by 583.1% during the second quarter. Gyroscope Capital Management Group LLC now owns 104,263 shares of the biopharmaceutical company’s stock worth $9,769,000 after purchasing an additional 89,000 shares in the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.

Shares of NASDAQ CELG traded up $1.01 during midday trading on Friday, reaching $100.82. 1,771,905 shares of the company’s stock were exchanged, compared to its average volume of 3,736,602. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $100.42. The stock has a market capitalization of $70.08 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.50 and a beta of 1.42. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.32 and a current ratio of 3.44. The business’s fifty day moving average price is $97.96 and its two-hundred day moving average price is $95.03.

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

A number of research analysts have commented on the company. Mizuho cut Celgene from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $103.00 to $100.00 in a research note on Monday, August 19th. ValuEngine cut Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a research note on Tuesday, July 23rd. Finally, Cowen restated a “hold” rating and set a $102.00 price objective on shares of Celgene in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $94.60.

In related news, insider Terrie Curran sold 11,338 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $98.27, for a total value of $1,114,185.26. Following the completion of the sale, the insider now directly owns 13,493 shares of the company’s stock, valued at $1,325,957.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by insiders.

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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