Celgene Corporation (CELG) Hits New 1-Year High at $141.84
Celgene Corporation (NASDAQ:CELG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $141.84 and last traded at $141.87, with a volume of 2,549,061 shares traded. The stock had previously closed at $140.16.
CELG has been the subject of several recent analyst reports. BTIG Research cut shares of Celgene Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Leerink Swann reiterated an “outperform” rating and issued a $160.00 target price (up from $150.00) on shares of Celgene Corporation in a report on Friday, July 28th. Argus upgraded shares of Celgene Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $96.93 to $160.00 in a report on Monday, July 31st. Credit Suisse Group set a $148.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. Finally, Cann reiterated a “buy” rating on shares of Celgene Corporation in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $147.31.
The stock has a 50-day moving average price of $134.31 and a 200 day moving average price of $126.68. The company has a market cap of $109.92 billion, a price-to-earnings ratio of 43.51 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the business earned $1.44 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
In related news, insider Robert J. Hugin sold 175,970 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total value of $23,604,615.80. Following the sale, the insider now owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the sale, the insider now owns 4,004 shares in the company, valued at approximately $481,200.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,011 shares of company stock worth $35,078,473. 0.95% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. raised its stake in Celgene Corporation by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the period. Motco raised its stake in Celgene Corporation by 306.9% in the 1st quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation in the 1st quarter valued at $118,000. Penserra Capital Management LLC bought a new stake in Celgene Corporation in the 2nd quarter valued at $129,000. Finally, Oakworth Capital Inc. raised its stake in Celgene Corporation by 60.9% in the 1st quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 412 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.
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Celgene Corporation Company Profile
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.