HealthCor Management L.P. Purchases 525,000 Shares of Celgene Corporation (CELG)

HealthCor Management L.P. lifted its stake in Celgene Corporation (NASDAQ:CELG) by 37.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,925,000 shares of the biopharmaceutical company’s stock after buying an additional 525,000 shares during the quarter. Celgene makes up 9.0% of HealthCor Management L.P.’s holdings, making the stock its 2nd largest position. HealthCor Management L.P. owned about 0.25% of Celgene worth $250,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of CELG. BlackRock Inc. boosted its stake in shares of Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after buying an additional 3,084,227 shares during the last quarter. Oaktop Capital Management II L.P. purchased a new stake in shares of Celgene in the second quarter worth about $271,605,000. Vanguard Group Inc. boosted its stake in shares of Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after buying an additional 1,610,056 shares during the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Celgene by 12,913.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,587,271 shares of the biopharmaceutical company’s stock worth $12,222,000 after buying an additional 1,575,074 shares during the last quarter. Finally, Investec Asset Management LTD purchased a new stake in shares of Celgene in the first quarter worth about $194,490,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

A number of brokerages have recently commented on CELG. Morgan Stanley downgraded Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research note on Thursday, October 5th. Royal Bank Of Canada restated a “buy” rating and issued a $173.00 target price on shares of Celgene in a research note on Thursday, October 5th. Robert W. Baird restated a “buy” rating and issued a $162.00 target price on shares of Celgene in a research note on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $162.00 price target on shares of Celgene in a report on Tuesday, September 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $160.00 price target on shares of Celgene in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $139.57.

In related news, insider Terrie Curran sold 1,727 shares of the 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 completion of the transaction, 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 at this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the completion of the transaction, the director now owns 85,551 shares of the company’s stock, valued at $12,110,599.56. The disclosure for this sale can be found here. Insiders sold 20,227 shares of company stock valued at $2,843,956 over the last quarter. 0.95% of the stock is currently owned by company insiders.

Celgene Corporation (CELG) opened at $102.14 on Friday. The firm has a market capitalization of $79,385.17, a P/E ratio of 15.76, a P/E/G ratio of 0.78 and a beta of 1.78. Celgene Corporation has a 52-week low of $94.55 and a 52-week high of $147.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. analysts anticipate that Celgene Corporation will post 6.67 EPS for the current fiscal year.

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Celgene 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 (NASDAQ:CELG)

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