BlackRock Inc. boosted its stake in shares of Celgene Corporation (NASDAQ:CELG) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 56,725,342 shares of the biopharmaceutical company’s stock after buying an additional 3,084,227 shares during the period. BlackRock Inc. owned approximately 7.25% of Celgene worth $7,366,919,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Oaktop Capital Management II L.P. bought a new position in shares of Celgene during the 2nd quarter worth $271,605,000. Harbour Capital Advisors LLC boosted its position in Celgene by 12,913.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,587,271 shares of the biopharmaceutical company’s stock valued at $12,222,000 after purchasing an additional 1,575,074 shares in the last quarter. Investec Asset Management LTD bought a new stake in Celgene during the first quarter valued at about $194,490,000. Clearbridge Investments LLC boosted its position in Celgene by 24.1% during the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock valued at $572,617,000 after purchasing an additional 892,392 shares in the last quarter. Finally, State Street Corp boosted its position in Celgene by 2.3% during the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after purchasing an additional 723,844 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.
In related news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the transaction, the director now owns 85,551 shares in the company, valued at $12,110,599.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Terrie Curran sold 1,727 shares of Celgene stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. analysts forecast that Celgene Corporation will post 6.67 earnings per share for the current year.
A number of research firms have commented on CELG. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of Celgene in a research note on Wednesday, August 9th. Vetr upgraded Celgene from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a research note on Wednesday, August 16th. Cantor Fitzgerald restated a “buy” rating and issued a $162.00 price objective on shares of Celgene in a research note on Tuesday, September 26th. Piper Jaffray Companies restated a “neutral” rating and issued a $133.00 price objective on shares of Celgene in a research note on Monday, October 23rd. Finally, Stifel Nicolaus reduced their price objective on Celgene from $155.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $139.57.
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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