Pacific Heights Asset Management LLC Has $13,896,000 Stake in Celgene Corporation (CELG)

Pacific Heights Asset Management LLC held its position in shares of Celgene Corporation (NASDAQ:CELG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. Celgene Corporation comprises approximately 1.3% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 27th largest position. Pacific Heights Asset Management LLC’s holdings in Celgene Corporation were worth $13,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jag Capital Management LLC raised its position in shares of Celgene Corporation by 21.7% in the second quarter. Jag Capital Management LLC now owns 146,138 shares of the biopharmaceutical company’s stock worth $18,979,000 after buying an additional 26,029 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Celgene Corporation by 6.9% in the second quarter. First Citizens Bank & Trust Co. now owns 12,477 shares of the biopharmaceutical company’s stock worth $1,621,000 after buying an additional 808 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Celgene Corporation during the second quarter worth $2,876,000. Gilbert & Cook Inc. acquired a new position in shares of Celgene Corporation during the second quarter worth $381,000. Finally, WealthTrust Arizona LLC raised its position in shares of Celgene Corporation by 5.2% in the second quarter. WealthTrust Arizona LLC now owns 1,276 shares of the biopharmaceutical company’s stock worth $166,000 after buying an additional 63 shares in the last quarter. 78.34% of the stock is currently owned by institutional investors.

Shares of Celgene Corporation (NASDAQ CELG) traded down 0.28% during trading on Friday, hitting $129.68. 2,313,034 shares of the stock traded hands. The company has a market cap of $101.46 billion, a PE ratio of 40.16 and a beta of 1.89. The firm has a 50 day moving average price of $133.39 and a 200-day moving average price of $125.39. Celgene Corporation has a one year low of $96.93 and a one year high of $139.00.

Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the 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 firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the firm earned $1.44 EPS. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

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A number of research analysts have weighed in on the company. Cantor Fitzgerald reissued a “buy” rating on shares of Celgene Corporation in a research note on Tuesday. Vetr raised Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target on the stock in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $175.00 price target on shares of Celgene Corporation in a research note on Wednesday, August 9th. Cann reissued a “buy” rating and set a $175.00 price target on shares of Celgene Corporation in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $160.00 price target on shares of Celgene Corporation in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Celgene Corporation currently has an average rating of “Buy” and a consensus target price of $147.44.

In other Celgene Corporation news, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following 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 SEC, which is available through this link. Also, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction 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 three months, insiders sold 253,761 shares of company stock worth $33,792,445. Insiders own 0.95% of the company’s stock.

Celgene Corporation Company Profile

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.