King Luther Capital Management Corp cut its holdings in shares of Celgene Corporation (NASDAQ:CELG) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,330,362 shares of the biopharmaceutical company’s stock after selling 53,359 shares during the period. Celgene Corporation comprises about 1.6% of King Luther Capital Management Corp’s portfolio, making the stock its 14th biggest position. King Luther Capital Management Corp owned about 0.17% of Celgene Corporation worth $172,774,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new stake in shares of Celgene Corporation during the second quarter worth approximately $754,000. Standard Life Investments LTD increased its stake in shares of Celgene Corporation by 11.6% during the second quarter. Standard Life Investments LTD now owns 3,558,666 shares of the biopharmaceutical company’s stock worth $462,147,000 after buying an additional 370,943 shares during the period. Norinchukin Bank The increased its stake in shares of Celgene Corporation by 33.1% during the second quarter. Norinchukin Bank The now owns 120,358 shares of the biopharmaceutical company’s stock worth $15,631,000 after buying an additional 29,957 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Celgene Corporation by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 9,874,214 shares of the biopharmaceutical company’s stock worth $1,282,369,000 after buying an additional 342,580 shares during the period. Finally, Chemical Bank increased its stake in shares of Celgene Corporation by 5.4% during the second quarter. Chemical Bank now owns 47,220 shares of the biopharmaceutical company’s stock worth $6,132,000 after buying an additional 2,433 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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Celgene Corporation (NASDAQ:CELG) opened at $104.10 on Monday. Celgene Corporation has a 52-week low of $94.55 and a 52-week high of $147.17. The firm has a market capitalization of $81,959.70, a price-to-earnings ratio of 16.27, a PEG ratio of 0.80 and a beta of 1.79. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.

Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter last year, the business posted $1.58 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. sell-side analysts forecast that Celgene Corporation will post 6.67 EPS for the current year.

A number of research firms recently weighed in on CELG. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price on the stock in a research note on Thursday, August 10th. Canaccord Genuity set a $156.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. UBS AG lowered shares of Celgene Corporation from a “strong-buy” rating to a “market perform” rating and set a $160.00 target price on the stock. in a research note on Thursday, October 26th. BMO Capital Markets dropped their price target on shares of Celgene Corporation from $163.00 to $148.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Finally, BTIG Research reiterated a “neutral” rating on shares of Celgene Corporation in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Celgene Corporation has a consensus rating of “Buy” and a consensus target price of $139.87.

In related news, Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $139.03, for a total transaction of $1,286,027.50. Following the completion of the sale, the director now owns 9,250 shares in the company, valued at approximately $1,286,027.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrie Curran sold 1,727 shares of Celgene Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,227 shares of company stock valued at $2,843,956. Company insiders own 0.95% of the company’s stock.

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.

Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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