United Bank Inc. increased its stake in Celgene Corporation (NASDAQ:CELG) by 28.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,386 shares of the biopharmaceutical company’s stock after buying an additional 740 shares during the period. United Bank Inc.’s holdings in Celgene Corporation were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CELG. Diversified Trust Co raised its stake 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 raised its stake 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 valued at $289,000 after buying an additional 13 shares during the last quarter. South Texas Money Management Ltd. raised its stake 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 valued at $305,000 after buying an additional 15 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake 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 valued at $253,000 after buying an additional 18 shares during the last quarter. Finally, Keel Point LLC raised its stake in Celgene Corporation by 0.9% in the first quarter. Keel Point LLC now owns 3,103 shares of the biopharmaceutical company’s stock valued at $386,000 after buying an additional 28 shares during the last quarter. Institutional investors own 78.39% of the company’s stock.

Shares of Celgene Corporation (NASDAQ:CELG) opened at 137.74 on Monday. The stock’s 50 day moving average is $127.82 and its 200-day moving average is $122.28. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $138.17. The stock has a market cap of $107.55 billion, a PE ratio of 51.72 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.47 by $0.21. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.04 billion. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. Celgene Corporation’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 EPS. Equities analysts expect that Celgene Corporation will post $7.28 EPS for the current year.

TRADEMARK VIOLATION WARNING: “United Bank Inc. Boosts Stake in Celgene Corporation (CELG)” was first posted by Daily Political and is the property of of Daily Political. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/07/24/united-bank-inc-boosts-stake-in-celgene-corporation-celg.html.

Several analysts have issued reports on the stock. Robert W. Baird restated an “outperform” rating and set a $162.00 price target on shares of Celgene Corporation in a research report on Friday. Zacks Investment Research upgraded shares of Celgene Corporation from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research report on Tuesday, July 18th. SunTrust Banks, Inc. restated a “buy” rating and set a $150.00 price target on shares of Celgene Corporation in a research report on Friday, July 14th. Vetr lowered shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $149.76 price target for the company. in a research report on Friday, July 14th. Finally, William Blair restated an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. Celgene Corporation currently has an average rating of “Buy” and a consensus target price of $141.92.

In related news, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the transaction, the insider now owns 4,004 shares in the company, valued at approximately $481,200.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $124.00, for a total transaction of $1,147,000.00. Following the transaction, the director now owns 32,169 shares of the company’s stock, valued at approximately $3,988,956. The disclosure for this sale can be found here. In the last quarter, insiders have sold 237,005 shares of company stock valued at $31,515,142. 0.95% of the stock is currently owned by company insiders.

About Celgene Corporation

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)

Receive News & Ratings for Celgene Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene Corporation and related companies with MarketBeat.com's FREE daily email newsletter.