Investors Buy Shares of Celgene Corporation (NASDAQ:CELG) on Weakness
Investors bought shares of Celgene Corporation (NASDAQ:CELG) on weakness during trading on Tuesday. $99.96 million flowed into the stock on the tick-up and $65.29 million flowed out of the stock on the tick-down, for a money net flow of $34.67 million into the stock. Of all equities tracked, Celgene Corporation had the 20th highest net in-flow for the day. Celgene Corporation traded down ($1.79) for the day and closed at $135.27
A number of brokerages have weighed in on CELG. Jefferies Group LLC set a $154.00 target price on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, May 13th. Vetr lowered Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $132.90 target price for the company. in a research report on Thursday, May 11th. BTIG Research reissued a “buy” rating and issued a $138.00 target price on shares of Celgene Corporation in a research report on Monday, May 1st. Cantor Fitzgerald set a $159.00 target price on Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, April 27th. Finally, Cann reissued a “buy” rating on shares of Celgene Corporation in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Celgene Corporation has a consensus rating of “Buy” and a consensus price target of $147.06.
The company has a market cap of $105.83 billion, a P/E ratio of 41.89 and a beta of 1.89. The firm’s 50 day moving average price is $133.32 and its 200 day moving average price is $123.59.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Celgene Corporation’s revenue was up 18.7% on a year-over-year basis. On average, analysts expect that Celgene Corporation will post $7.32 EPS for the current year.
In other news, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the transaction, the director now directly owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the transaction, the insider now directly owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,255 shares of company stock valued at $31,377,042. Insiders own 0.95% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Services of America Inc. purchased a new position in Celgene Corporation during the first quarter valued at $203,000. Private Asset Management Inc. increased its position in Celgene Corporation by 3.2% in the first quarter. Private Asset Management Inc. now owns 1,832 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 57 shares during the last quarter. Pensionfund Sabic purchased a new position in Celgene Corporation during the first quarter valued at $2,688,000. Pensionfund DSM Netherlands purchased a new position in Celgene Corporation during the first quarter valued at $5,363,000. Finally, Park National Corp OH increased its position in Celgene Corporation by 22.3% in the first quarter. Park National Corp OH now owns 3,752 shares of the biopharmaceutical company’s stock valued at $467,000 after buying an additional 684 shares during the last quarter. 78.41% of the stock is owned by institutional investors and hedge funds.
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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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