Middleton & Co Inc MA Reduces Position in Celgene Corporation (NASDAQ:CELG)

Middleton & Co Inc MA cut its stake in Celgene Corporation (NASDAQ:CELG) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,743 shares of the biopharmaceutical company’s stock after selling 58 shares during the period. Middleton & Co Inc MA’s holdings in Celgene Corporation were worth $226,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CELG. Friess Associates LLC purchased a new position in shares of Celgene Corporation during the fourth quarter valued at approximately $15,056,000. Hampstead Capital LLP purchased a new position in shares of Celgene Corporation during the fourth quarter valued at approximately $4,630,000. Orbimed Advisors LLC boosted its position in shares of Celgene Corporation by 5.4% in the fourth quarter. Orbimed Advisors LLC now owns 3,106,777 shares of the biopharmaceutical company’s stock valued at $359,609,000 after buying an additional 158,200 shares during the last quarter. Soros Fund Management LLC bought a new stake in Celgene Corporation during the fourth quarter valued at approximately $405,000. Finally, Alkeon Capital Management LLC boosted its stake in Celgene Corporation by 3.1% in the fourth quarter. Alkeon Capital Management LLC now owns 1,818,555 shares of the biopharmaceutical company’s stock valued at $210,498,000 after buying an additional 55,460 shares in the last quarter. 78.34% of the stock is currently owned by institutional investors.

Celgene Corporation (CELG) traded up 0.05% during trading on Friday, hitting $127.65. The company had a trading volume of 4,270,548 shares. The company’s 50 day moving average price is $133.74 and its 200-day moving average price is $124.92. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The stock has a market capitalization of $99.87 billion, a price-to-earnings ratio of 39.53 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. Celgene Corporation’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 EPS. On average, analysts expect that Celgene Corporation will post $7.32 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This article was reported by [[site]] and is owned by of [[site]]. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at [[permalink]].

A number of research firms have issued reports on CELG. Jefferies Group LLC set a $154.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a research note on Saturday, May 13th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $175.00 target price on shares of Celgene Corporation in a research report on Wednesday, August 9th. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price on the stock in a research report on Wednesday. SunTrust Banks, Inc. reiterated a “buy” rating and set a $150.00 price target on shares of Celgene Corporation in a research note on Friday, July 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $139.00 price target on shares of Celgene Corporation in a research note on Thursday, July 6th. One research 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 given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $147.00.

In related news, insider Rupert Vessey sold 4,785 shares of the stock in a transaction dated 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 sale, the insider now directly owns 4,004 shares in the company, valued at approximately $481,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael D. Casey sold 9,250 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 253,761 shares of company stock valued at $33,792,445 over the last 90 days. 0.95% of the stock is currently owned by company insiders.

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.