Exane Asset Management cut its stake in Celgene Corporation (NASDAQ:CELG) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,756 shares of the biopharmaceutical company’s stock after selling 5,436 shares during the period. Celgene Corporation makes up about 4.1% of Exane Asset Management’s holdings, making the stock its 10th largest position. Exane Asset Management’s holdings in Celgene Corporation were worth $13,215,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co increased its position in Celgene Corporation by 0.4% in the first quarter. Diversified Trust Co now owns 2,342 shares of the biopharmaceutical company’s stock valued at $291,000 after buying an additional 9 shares during the last quarter. Sowell Financial Services LLC increased its position in Celgene Corporation by 0.5% in the first quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 13 shares in the last quarter. South Texas Money Management Ltd. increased its position in Celgene Corporation by 0.6% in the first quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 15 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in Celgene Corporation by 0.9% in the first quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock worth $253,000 after buying an additional 18 shares in the last quarter. Finally, Keel Point LLC increased its position in Celgene Corporation by 0.9% in the first quarter. Keel Point LLC now owns 3,103 shares of the biopharmaceutical company’s stock worth $386,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.
Celgene Corporation (NASDAQ:CELG) traded up 0.18% during mid-day trading on Friday, reaching $130.61. The company’s stock had a trading volume of 2,735,623 shares. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $139.00. The stock has a market capitalization of $102.18 billion, a price-to-earnings ratio of 40.45 and a beta of 1.89. The firm has a 50-day moving average of $134.14 and a 200-day moving average of $124.30.
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. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. Celgene Corporation’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts expect that Celgene Corporation will post $7.32 earnings per share for the current year.
A number of research analysts have recently commented on the company. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price for the company in a research report on Thursday. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $175.00 target price on shares of Celgene Corporation in a research note on Wednesday. Cann restated a “buy” rating and set a $175.00 price target on shares of Celgene Corporation in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $160.00 price target on shares of Celgene Corporation in a report on Monday, July 31st. Finally, Argus raised Celgene Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $96.93 to $160.00 in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Celgene Corporation presently has an average rating of “Buy” and an average target price of $147.00.
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 completion of the transaction, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the business’s 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 transaction, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 235,255 shares of company stock valued at $31,377,042. 0.95% of the stock is currently owned by insiders.
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.
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