Beacon Trust Co. reduced its stake in shares of Celgene Corporation (NASDAQ:CELG) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,457 shares of the biopharmaceutical company’s stock after selling 467 shares during the period. Beacon Trust Co.’s holdings in Celgene Corporation were worth $5,614,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Fagan Associates Inc. increased its position in Celgene Corporation by 5.0% in the first quarter. Fagan Associates Inc. now owns 26,380 shares of the biopharmaceutical company’s stock valued at $3,282,000 after buying an additional 1,250 shares in the last quarter. 1st Global Advisors Inc. bought a new position in Celgene Corporation during the first quarter valued at approximately $247,000. Premier Asset Managment LLC increased its position in Celgene Corporation by 5.0% in the first quarter. Premier Asset Managment LLC now owns 123,107 shares of the biopharmaceutical company’s stock valued at $15,318,000 after buying an additional 5,840 shares in the last quarter. Independent Advisor Alliance increased its position in Celgene Corporation by 46.3% in the first quarter. Independent Advisor Alliance now owns 6,003 shares of the biopharmaceutical company’s stock valued at $745,000 after buying an additional 1,899 shares in the last quarter. Finally, Marcus Capital LLC increased its position in Celgene Corporation by 1.5% in the first quarter. Marcus Capital LLC now owns 11,550 shares of the biopharmaceutical company’s stock valued at $1,437,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 78.34% of the company’s stock.
Celgene Corporation (CELG) traded up 0.76% on Tuesday, hitting $128.40. The stock had a trading volume of 633,943 shares. The company has a 50-day moving average price of $133.67 and a 200-day moving average price of $125.12. 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 $100.45 billion, a price-to-earnings ratio of 39.76 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $1.44 EPS. Equities analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.
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Several research firms have commented on CELG. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price objective on the stock in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $175.00 target price on shares of Celgene Corporation in a research report on Wednesday, August 9th. Cann reissued a “buy” rating and issued a $175.00 target price on shares of Celgene Corporation in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $160.00 target price on shares of Celgene Corporation in a research report on Monday, July 31st. Finally, Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $96.93 to $160.00 in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Celgene Corporation currently has a consensus rating of “Buy” and a consensus target price of $147.44.
In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the transaction, the director now directly owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rupert Vessey sold 4,785 shares of Celgene Corporation stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the transaction, the insider now directly owns 4,004 shares in the company, valued at $481,200.72. The disclosure for this sale can be found here. Insiders sold a total of 253,761 shares of company stock worth $33,792,445 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.
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