Traders Sell Shares of Celgene Corp. (CELG) on Strength (CELG)
Traders sold shares of Celgene Corp. (NASDAQ:CELG) on strength during trading hours on Monday. $65.90 million flowed into the stock on the tick-up and $79.84 million flowed out of the stock on the tick-down, for a money net flow of $13.94 million out of the stock. Of all stocks tracked, Celgene Corp. had the 0th highest net out-flow for the day. Celgene Corp. traded up $2.04 for the day and closed at $114.20
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Celgene Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Friday, August 5th. BTIG Research upgraded Celgene Corp. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.14 to $138.00 in a report on Wednesday, August 3rd. Vetr upgraded Celgene Corp. from a “sell” rating to a “hold” rating and set a $111.26 price target on the stock in a report on Monday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a research report on Tuesday, August 2nd. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $120.00 price objective on shares of Celgene Corp. in a research report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.61.
The firm has a 50-day moving average of $109.12 and a 200-day moving average of $104.29. The company has a market capitalization of $88.52 billion and a P/E ratio of 48.27.
Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts forecast that Celgene Corp. will post $5.70 EPS for the current fiscal year.
In other news, insider Robert J. Hugin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $110.00, for a total transaction of $11,000,000.00. Following the completion of the transaction, the insider now directly owns 1,022,201 shares in the company, valued at $112,442,110. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert J. Hugin sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $100.16, for a total value of $7,512,000.00. Following the transaction, the insider now owns 1,122,201 shares of the company’s stock, valued at $112,399,652.16. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of CELG. Jennison Associates LLC increased its position in shares of Celgene Corp. by 14.1% in the fourth quarter. Jennison Associates LLC now owns 14,106,160 shares of the biopharmaceutical company’s stock valued at $1,689,354,000 after buying an additional 1,741,019 shares in the last quarter. Edgewood Management LLC increased its position in shares of Celgene Corp. by 5.1% in the fourth quarter. Edgewood Management LLC now owns 7,665,713 shares of the biopharmaceutical company’s stock valued at $918,046,000 after buying an additional 373,288 shares in the last quarter. Eaton Vance Management increased its position in shares of Celgene Corp. by 5.8% in the fourth quarter. Eaton Vance Management now owns 2,752,996 shares of the biopharmaceutical company’s stock valued at $329,699,000 after buying an additional 150,515 shares in the last quarter. American Capital Management Inc. acquired a new position in shares of Celgene Corp. during the fourth quarter valued at about $6,819,000. Finally, Matarin Capital Management LLC acquired a new position in shares of Celgene Corp. during the fourth quarter valued at about $4,207,000.
Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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