Investors Buy Shares of Celgene Corp. (CELG) on Weakness
Investors purchased shares of Celgene Corp. (NASDAQ:CELG) on weakness during trading on Monday. $68.13 million flowed into the stock on the tick-up and $57.56 million flowed out of the stock on the tick-down, for a money net flow of $10.57 million into the stock. Of all companies tracked, Celgene Corp. had the 6th highest net in-flow for the day. Celgene Corp. traded down ($0.84) for the day and closed at $107.95
Several brokerages have commented on CELG. Zacks Investment Research lowered Celgene Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Celgene Corp. in a research report on Thursday, May 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Celgene Corp. in a research report on Thursday, June 30th. Cowen and Company reaffirmed a “buy” rating and issued a $150.00 price target on shares of Celgene Corp. in a research report on Thursday, July 28th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of Celgene Corp. in a research report on Monday, May 2nd. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $137.80.
The firm’s 50 day moving average is $109.84 and its 200-day moving average is $104.65. The company has a market cap of $83.67 billion and a P/E ratio of 45.63.
Celgene Corp. (NASDAQ:CELG) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.39 by $0.05. During the same period last year, the business earned $1.23 earnings per share. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. The firm’s revenue was up 20.9% on a year-over-year basis. Equities research analysts forecast that Celgene Corp. will post $5.70 earnings per share for the current fiscal year.
In related news, Director James J. Loughlin sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $114.10, for a total transaction of $3,137,750.00. Following the sale, the director now directly owns 42,919 shares of the company’s stock, valued at $4,897,057.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert J. Hugin sold 75,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 1,122,201 shares in the company, valued at $112,399,652.16. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of the stock. Matarin Capital Management LLC acquired a new stake in shares of Celgene Corp. during the fourth quarter valued at approximately $4,207,000. BlackRock Advisors LLC raised its stake in shares of Celgene Corp. by 0.9% in the fourth quarter. BlackRock Advisors LLC now owns 3,616,372 shares of the biopharmaceutical company’s stock valued at $433,097,000 after buying an additional 30,629 shares during the last quarter. US Bancorp DE raised its stake in shares of Celgene Corp. by 4.9% in the fourth quarter. US Bancorp DE now owns 520,006 shares of the biopharmaceutical company’s stock valued at $62,276,000 after buying an additional 24,384 shares during the last quarter. Nicholas Co. Inc. WI raised its stake in shares of Celgene Corp. by 3.1% in the fourth quarter. Nicholas Co. Inc. WI now owns 748,020 shares of the biopharmaceutical company’s stock valued at $89,582,000 after buying an additional 22,770 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Celgene Corp. by 8.3% in the fourth quarter. KBC Group NV now owns 277,271 shares of the biopharmaceutical company’s stock valued at $33,207,000 after buying an additional 21,335 shares during the last quarter.
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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