NEXT Financial Group Inc Reduces Stake in Celgene Corporation (CELG)

NEXT Financial Group Inc decreased its stake in Celgene Corporation (NASDAQ:CELG) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,741 shares of the biopharmaceutical company’s stock after selling 307 shares during the period. NEXT Financial Group Inc’s holdings in Celgene Corporation were worth $712,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Friess Associates LLC purchased a new position in shares of Celgene Corporation during the fourth quarter valued at $15,056,000. Hampstead Capital LLP purchased a new position in shares of Celgene Corporation during the fourth quarter valued at $4,630,000. Orbimed Advisors LLC increased its position in shares of Celgene Corporation by 5.4% in the fourth quarter. Orbimed Advisors LLC now owns 3,106,777 shares of the biopharmaceutical company’s stock valued at $359,609,000 after buying an additional 158,200 shares during the last quarter. Soros Fund Management LLC bought a new position in Celgene Corporation during the fourth quarter worth approximately $405,000. Finally, Alkeon Capital Management LLC increased its position in Celgene Corporation by 3.1% in the fourth quarter. Alkeon Capital Management LLC now owns 1,818,555 shares of the biopharmaceutical company’s stock worth $210,498,000 after buying an additional 55,460 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.

Shares of Celgene Corporation (NASDAQ CELG) opened at 130.61 on Friday. The firm’s 50-day moving average price is $134.14 and its 200-day moving average price is $124.30. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $139.00. The firm has a market capitalization of $102.18 billion, a price-to-earnings ratio of 40.45 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the business posted $1.44 EPS. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current year.

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A number of research firms have recently commented on CELG. Jefferies Group LLC set a $154.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a research note on Saturday, May 13th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $175.00 target price on shares of Celgene Corporation in a research report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating and set a $150.00 target price on shares of Celgene Corporation in a research report on Friday, July 14th. Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $96.93 to $160.00 in a research report on Monday, July 31st. Finally, Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Celgene Corporation currently has a consensus rating of “Buy” and a consensus price target of $147.00.

In related news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction 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 directly 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 ninety days, insiders have sold 235,255 shares of company stock valued at $31,377,042. 0.95% of the stock is owned by corporate 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.

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

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