South State Corp acquired a new position in shares of Celgene Corporation (NASDAQ:CELG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,782 shares of the biopharmaceutical company’s stock, valued at approximately $969,000.
Other hedge funds have also recently bought and sold shares of the company. Motco raised its stake in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation during the first quarter worth about $118,000. Carroll Financial Associates Inc. raised its stake in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 400 shares during the period. Oakworth Capital Inc. raised its stake in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the period. Finally, Reilly Financial Advisors LLC raised its stake in Celgene Corporation by 15.3% in the first quarter. Reilly Financial Advisors LLC now owns 1,211 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 161 shares during the period. 78.39% of the stock is owned by institutional investors.
Celgene Corporation (CELG) opened at 135.90 on Friday. The company has a market capitalization of $106.32 billion, a PE ratio of 42.09 and a beta of 1.89. The company has a 50-day moving average price of $132.00 and a 200 day moving average price of $123.32. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $139.00.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts forecast that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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CELG has been the subject of a number of research analyst reports. Leerink Swann raised shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $94.42 to $150.00 in a research report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $98.00 price target (up from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. William Blair reissued an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $96.93 to $131.70 in a research report on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $147.06.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total value of $1,161,707.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the completion of the transaction, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,255 shares of company stock worth $31,377,042. Insiders own 0.95% of the company’s stock.
About Celgene Corporation
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged 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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