Independent Portfolio Consultants Inc. Boosts Stake in Celgene Corporation (CELG)
Independent Portfolio Consultants Inc. lifted its holdings in Celgene Corporation (NASDAQ:CELG) by 39.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,154 shares of the biopharmaceutical company’s stock after buying an additional 613 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Celgene Corporation were worth $280,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Celgene Corporation during the 1st quarter worth about $118,000. Oakworth Capital Inc. boosted its stake in shares of Celgene Corporation by 60.9% during the 1st quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 412 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Celgene Corporation by 47.5% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 380 shares during the period. Nicolet Bankshares Inc. purchased a new position in shares of Celgene Corporation during the 1st quarter worth about $187,000. Finally, Schmidt P J Investment Management Inc. purchased a new position in shares of Celgene Corporation during the 1st quarter worth about $201,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $125.59, for a total value of $1,161,707.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael A. Friedman sold 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $132.50, for a total transaction of $1,325,000.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $662,500. The disclosure for this sale can be found here. Insiders sold a total of 258,226 shares of company stock worth $34,503,411 over the last three months. 0.95% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on CELG. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $175.00 price target on shares of Celgene Corporation in a research note on Wednesday, August 9th. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a research note on Wednesday, August 16th. Bank of America Corporation reissued a “buy” rating on shares of Celgene Corporation in a research report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $150.00 price objective on shares of Celgene Corporation in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $160.00 price objective on shares of Celgene Corporation in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $147.31.
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Celgene Corporation (NASDAQ CELG) traded up 0.011% during trading on Thursday, reaching $141.275. 1,195,969 shares of the company’s stock traded hands. Celgene Corporation has a one year low of $96.93 and a one year high of $142.64. The firm’s 50 day moving average price is $134.52 and its 200-day moving average price is $127.12. The stock has a market cap of $110.53 billion, a P/E ratio of 43.752 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. On average, equities analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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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