Arizona State Retirement System Raises Position in Celgene Corporation (CELG)

Arizona State Retirement System increased its stake in Celgene Corporation (NASDAQ:CELG) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,618 shares of the biopharmaceutical company’s stock after purchasing an additional 1,000 shares during the quarter. Arizona State Retirement System’s holdings in Celgene Corporation were worth $25,145,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its holdings in Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after purchasing an additional 723,844 shares during the last quarter. Bank of New York Mellon Corp raised its position in Celgene Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock worth $1,255,309,000 after acquiring an additional 472,067 shares during the period. American Century Companies Inc. raised its position in Celgene Corporation by 4.4% in the first quarter. American Century Companies Inc. now owns 6,563,791 shares of the biopharmaceutical company’s stock worth $816,733,000 after acquiring an additional 276,089 shares during the period. Pioneer Investment Management Inc. raised its position in Celgene Corporation by 15.7% in the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock worth $650,911,000 after acquiring an additional 710,584 shares during the period. Finally, Clearbridge Investments LLC raised its position in Celgene Corporation by 24.1% in the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock worth $572,617,000 after acquiring an additional 892,392 shares during the period. Institutional investors own 79.36% of the company’s stock.

Celgene Corporation (NASDAQ CELG) opened at 139.69 on Wednesday. The firm has a 50 day moving average of $139.99 and a 200-day moving average of $129.85. The stock has a market capitalization of $109.29 billion, a PE ratio of 43.26 and a beta of 1.88. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $147.17.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results 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. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. On average, equities analysts predict that Celgene Corporation will post $7.32 EPS for the current year.

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In other news, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gilla Kaplan sold 7,500 shares of the 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 sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders sold 46,233 shares of company stock valued at $6,268,259 over the last quarter. Company insiders own 0.95% of the company’s stock.

Several research analysts have weighed in on the stock. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $175.00 price target (up from $148.00) on shares of Celgene Corporation in a research report on Monday, July 31st. Cantor Fitzgerald set a $160.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $160.00 price target (up from $152.00) on shares of Celgene Corporation in a research report on Friday, July 28th. BidaskClub upgraded shares of Celgene Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Mizuho set a $134.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $150.60.

Celgene Corporation 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.

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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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