Horizon Investment Services LLC Acquires New Stake in Celgene Corporation (CELG)
Horizon Investment Services LLC acquired a new stake in shares of Celgene Corporation (NASDAQ:CELG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 25,771 shares of the biopharmaceutical company’s stock, valued at approximately $3,207,000.
Several other large investors have also bought and sold shares of CELG. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Celgene Corporation in the first quarter worth about $118,000. Oakworth Capital Inc. boosted its holdings in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of 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 worth $147,000 after buying an additional 380 shares during the period. Nicolet Bankshares Inc. acquired a new position in shares of Celgene Corporation in the first quarter worth about $187,000. Finally, Independent Portfolio Consultants Inc. boosted its holdings in shares of Celgene Corporation by 209.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,541 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 1,043 shares during the period. Institutional investors own 79.43% of the company’s stock.
Several research analysts have commented on CELG shares. Leerink Swann upgraded shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $98.00 target price (up from $93.00) on shares of Celgene Corporation in a report on Wednesday, May 17th. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. 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. Finally, Canaccord Genuity set a $156.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Monday, May 22nd. One 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $147.31.
Shares of Celgene Corporation (NASDAQ CELG) traded up 0.21% during midday trading on Tuesday, hitting $141.22. 945,165 shares of the stock traded hands. The firm’s 50 day moving average price is $134.21 and its 200 day moving average price is $126.84. The company has a market capitalization of $110.48 billion, a PE ratio of 43.73 and a beta of 1.89. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $142.64.
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. Analysts expect that Celgene Corporation will post $7.32 EPS for the current 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.
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Celgene Corporation 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.
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