Stonebridge Capital Management Inc. Holds Holdings in Celgene Corporation (CELG)
Stonebridge Capital Management Inc. continued to hold its position in shares of Celgene Corporation (NASDAQ:CELG) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,198 shares of the biopharmaceutical company’s stock at the end of the 2nd quarter. Stonebridge Capital Management Inc.’s holdings in Celgene Corporation were worth $285,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC grew its holdings in Celgene Corporation by 12,913.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,587,271 shares of the biopharmaceutical company’s stock worth $12,222,000 after buying an additional 1,575,074 shares in the last quarter. Investec Asset Management LTD bought a new stake in Celgene Corporation during the first quarter worth $194,490,000. Clearbridge Investments LLC grew its holdings in Celgene Corporation by 24.1% during the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock worth $572,617,000 after buying an additional 892,392 shares in the last quarter. State Street Corp grew its holdings in Celgene Corporation by 2.3% during the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after buying an additional 723,844 shares in the last quarter. Finally, Pioneer Investment Management Inc. grew its holdings in Celgene Corporation by 15.7% during the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock worth $650,911,000 after buying an additional 710,584 shares in the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.
In related news, Director Ernest Mario sold 18,506 shares of Celgene Corporation stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the transaction, the director now directly owns 69,424 shares in the company, valued at $9,061,220.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of Celgene Corporation stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total value of $1,309,430.00. Following the transaction, the director now owns 85,551 shares in the company, valued at $12,110,599.56. The disclosure for this sale can be found here. Insiders have sold 63,006 shares of company stock worth $8,490,806 over the last quarter. 0.95% of the stock is owned by company insiders.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 143.89 on Friday. Celgene Corporation has a one year low of $96.93 and a one year high of $144.19. The stock has a market cap of $112.57 billion, a PE ratio of 44.56 and a beta of 1.89. The company’s 50-day moving average price is $135.45 and its 200-day moving average price is $127.81.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. Celgene Corporation’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. Equities research analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current year.
Several brokerages recently issued reports on CELG. BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and upped their price target for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a report on Thursday, August 10th. SunTrust Banks, Inc. set a $150.00 price target on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. Canaccord Genuity set a $156.00 price target on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Celgene Corporation presently has an average rating of “Buy” and a consensus price target of $149.34.
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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