Investors Sell Celgene (CELG) on Strength After Insider Selling
Investors sold shares of Celgene Co. (NASDAQ:CELG) on strength during trading on Wednesday after an insider sold shares in the company. $107.46 million flowed into the stock on the tick-up and $220.17 million flowed out of the stock on the tick-down, for a money net flow of $112.71 million out of the stock. Of all stocks tracked, Celgene had the 0th highest net out-flow for the day. Celgene traded up $0.05 for the day and closed at $91.61Specifically, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the completion of the transaction, the director now directly owns 94,801 shares in the company, valued at $9,099,947.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ernest Mario sold 13,370 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,120 shares of company stock valued at $3,879,509. Insiders own 0.95% of the company’s stock.
A number of equities research analysts have weighed in on the company. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Deutsche Bank assumed coverage on Celgene in a research report on Tuesday, December 12th. They issued a “hold” rating and a $114.00 target price for the company. Robert W. Baird restated a “hold” rating and issued a $92.00 target price on shares of Celgene in a research report on Thursday, March 1st. TheStreet downgraded Celgene from a “b-” rating to a “c+” rating in a research report on Friday, November 17th. Finally, SunTrust Banks set a $127.00 target price on Celgene and gave the stock a “buy” rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $128.22.
The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. The company has a market cap of $68,910.00, a P/E ratio of 17.45, a PEG ratio of 0.65 and a beta of 1.58.
Celgene announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. increased its stake in shares of Celgene by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares during the last quarter. Virtue Capital Management LLC acquired a new position in shares of Celgene in the fourth quarter worth $101,000. Arcadia Investment Management Corp MI increased its stake in shares of Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 400 shares during the last quarter. Robecosam AG acquired a new position in shares of Celgene in the third quarter worth $114,000. Finally, Guidant Wealth Advisors acquired a new position in shares of Celgene in the third quarter worth $119,000. 78.67% of the stock is currently owned by institutional investors.
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Celgene 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.
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