Celgene Corporation (NASDAQ:CELG) Stake Boosted by V Wealth Management LLC

V Wealth Management LLC boosted its stake in shares of Celgene Corporation (NASDAQ:CELG) by 62.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,344 shares of the biopharmaceutical company’s stock after buying an additional 6,265 shares during the period. Celgene Corporation accounts for approximately 1.0% of V Wealth Management LLC’s portfolio, making the stock its 21st largest position. V Wealth Management LLC’s holdings in Celgene Corporation were worth $2,113,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cpcm LLC bought a new stake in shares of Celgene Corporation during the fourth quarter valued at about $635,000. Jafra Capital Management LP bought a new stake in shares of Celgene Corporation during the fourth quarter valued at about $1,178,000. Baillie Gifford & Co. raised its stake in shares of Celgene Corporation by 1.8% in the fourth quarter. Baillie Gifford & Co. now owns 671,088 shares of the biopharmaceutical company’s stock valued at $77,679,000 after buying an additional 12,144 shares during the period. Parallel Advisors LLC bought a new stake in shares of Celgene Corporation during the fourth quarter valued at about $442,000. Finally, Integre Asset Management LLC raised its stake in shares of Celgene Corporation by 18.7% in the fourth quarter. Integre Asset Management LLC now owns 11,257 shares of the biopharmaceutical company’s stock valued at $1,303,000 after buying an additional 1,776 shares during the period. 78.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Celgene Corporation (CELG) opened at 136.70 on Friday. The company has a 50-day moving average price of $132.00 and a 200 day moving average price of $123.32. The company has a market capitalization of $106.95 billion, a P/E ratio of 42.34 and a beta of 1.89. 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The company’s revenue was up 18.7% on a year-over-year basis. On average, equities analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was first published by [[site]] and is the property of of [[site]]. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at [[permalink]].

Several brokerages recently issued reports on CELG. Mizuho set a $134.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a report on Wednesday, July 26th. Cantor Fitzgerald set a $160.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Robert W. Baird restated an “outperform” rating and issued a $162.00 price target on shares of Celgene Corporation in a research report on Friday, July 21st. Jefferies Group LLC restated a “buy” rating and issued a $160.00 price target on shares of Celgene Corporation in a research report on Monday, July 31st. Finally, Cann restated a “buy” rating and issued a $175.00 price target on shares of Celgene Corporation in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $147.06.

In related news, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the transaction, the insider now directly owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total value of $23,604,615.80. Following the transaction, the insider now directly owns 1,033,909 shares of the company’s stock, valued at $138,688,553.26. The disclosure for this sale can be found here. Insiders sold 235,255 shares of company stock valued at $31,377,042 over the last ninety days. 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.