CCM Investment Advisers LLC lowered its position in Celgene Corporation (NASDAQ:CELG) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,104 shares of the biopharmaceutical company’s stock after selling 1,691 shares during the period. CCM Investment Advisers LLC’s holdings in Celgene Corporation were worth $2,003,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CELG. Motco increased its stake in shares of 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. acquired a new stake in shares of Celgene Corporation during the first quarter worth about $118,000. Carroll Financial Associates Inc. increased its stake in shares of 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. increased its stake in shares of 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, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 380 shares during the period. 78.34% of the stock is owned by institutional investors.
Celgene Corporation (NASDAQ CELG) traded up 0.20% during midday trading on Wednesday, hitting $131.63. The company had a trading volume of 793,714 shares. The stock has a market cap of $102.98 billion, a price-to-earnings ratio of 40.76 and a beta of 1.89. The company’s 50 day moving average is $134.03 and its 200 day moving average is $124.75. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the business earned $1.44 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts anticipate 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 recent analyst reports. Jefferies Group LLC set a $154.00 price target on Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, May 13th. Vetr downgraded Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $132.90 price target for the company. in a report on Thursday, May 11th. BTIG Research reaffirmed a “buy” rating and set a $138.00 price target on shares of Celgene Corporation in a report on Monday, May 1st. Cantor Fitzgerald set a $159.00 price target on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, Cann reaffirmed a “buy” rating on shares of Celgene Corporation in a report on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $147.00.
In related news, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the transaction, the insider now owns 4,004 shares in the company, valued at $481,200.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Mario sold 18,506 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the transaction, the director now owns 69,424 shares in the company, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. Insiders have sold 253,761 shares of company stock worth $33,792,445 in the last quarter. Company 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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