Headinvest LLC boosted its position in shares of Celgene Corp. (NASDAQ:CELG) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,400 shares of the biopharmaceutical company’s stock after buying an additional 775 shares during the period. Headinvest LLC’s holdings in Celgene Corp. were worth $2,111,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Celgene Corp. by 29.3% in the first quarter. Wellington Management Group LLP now owns 9,105,975 shares of the biopharmaceutical company’s stock worth $911,417,000 after buying an additional 2,062,585 shares during the period. Orbis Allan Gray Ltd bought a new stake in Celgene Corp. during the first quarter worth about $119,631,000. Bank of Montreal Can bought a new stake in Celgene Corp. during the second quarter worth about $117,274,000. Bristol John W & Co. Inc. NY bought a new stake in Celgene Corp. during the second quarter worth about $52,246,000. Finally, Geode Capital Management LLC increased its stake in Celgene Corp. by 5.3% in the first quarter. Geode Capital Management LLC now owns 6,931,718 shares of the biopharmaceutical company’s stock worth $692,509,000 after buying an additional 348,123 shares during the period. 77.75% of the stock is currently owned by institutional investors.
Shares of Celgene Corp. (NASDAQ:CELG) traded down 1.46% during trading on Wednesday, reaching $105.83. 4,713,821 shares of the company were exchanged. Celgene Corp. has a 1-year low of $93.05 and a 1-year high of $128.39. The firm has a market capitalization of $82.03 billion, a P/E ratio of 44.73 and a beta of 1.31. The firm’s 50 day moving average is $109.05 and its 200 day moving average is $105.27.
Celgene Corp. (NASDAQ:CELG) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.05. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts anticipate that Celgene Corp. will post $5.71 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the stock. Argus reiterated a “buy” rating and issued a $155.00 target price on shares of Celgene Corp. in a research note on Wednesday, September 7th. Cowen and Company reiterated a “buy” rating and issued a $150.00 target price on shares of Celgene Corp. in a research note on Thursday, July 28th. Leerink Swann reiterated a “market perform” rating and issued a $135.00 target price on shares of Celgene Corp. in a research note on Monday, September 12th. Bank of America Corp. reiterated a “buy” rating and issued a $125.00 target price on shares of Celgene Corp. in a research note on Wednesday, June 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $138.00 target price on shares of Celgene Corp. in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $138.20.
In other Celgene Corp. news, Director James J. Loughlin sold 27,500 shares of Celgene Corp. stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $114.10, for a total value of $3,137,750.00. Following the transaction, the director now owns 42,919 shares in the company, valued at $4,897,057.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert J. Hugin sold 100,000 shares of Celgene Corp. stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $110.00, for a total value of $11,000,000.00. Following the completion of the transaction, the insider now owns 1,022,201 shares in the company, valued at approximately $112,442,110. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.
About Celgene Corp.
Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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