Congress Asset Management Co. MA reduced its stake in shares of Celgene Corporation (NASDAQ:CELG) by 16.5% during the first quarter, Holdings Channel reports. The fund owned 389,279 shares of the biopharmaceutical company’s stock after selling 76,874 shares during the period. Congress Asset Management Co. MA’s holdings in Celgene Corporation were worth $48,438,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Motco increased its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Celgene Corporation during the first quarter valued at about $118,000. Carroll Financial Associates Inc. increased its position in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares during the last quarter. Oakworth Capital Inc. increased its position in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 412 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 380 shares during the last quarter. 78.41% of the stock is currently owned by hedge funds and other institutional investors.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year.

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Several research firms recently issued reports on CELG. Cantor Fitzgerald set a $159.00 target price on Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, April 27th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $175.00 target price (up from $148.00) on shares of Celgene Corporation in a research report on Monday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 target price (up from $152.00) on shares of Celgene Corporation in a research report on Friday, July 28th. Canaccord Genuity set a $156.00 target price on Celgene Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. Finally, BidaskClub raised Celgene Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $147.06.

In other Celgene Corporation news, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the transaction, the insider now directly owns 4,004 shares in the company, valued at $481,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The disclosure for this sale can be found here. Insiders have sold 235,255 shares of company stock worth $31,377,042 over the last 90 days. 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.

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

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