Celgene Corp. (NASDAQ:CELG) Director Michael A. Friedman sold 56,116 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $103.66, for a total transaction of $5,816,984.56. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $5,183,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Celgene Corp. (NASDAQ:CELG) opened at 104.07 on Monday. The company’s 50-day moving average is $107.29 and its 200-day moving average is $105.50. Celgene Corp. has a 52-week low of $93.05 and a 52-week high of $128.39. The firm has a market capitalization of $80.67 billion, a P/E ratio of 43.99 and a beta of 1.49.
Celgene Corp. (NASDAQ:CELG) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.05. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, analysts predict that Celgene Corp. will post $5.71 EPS for the current year.
A number of large investors have recently made changes to their positions in the company. Carmignac Gestion increased its stake in shares of Celgene Corp. by 28.1% in the second quarter. Carmignac Gestion now owns 9,708,359 shares of the biopharmaceutical company’s stock valued at $957,535,000 after buying an additional 2,127,659 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 valued at $911,417,000 after buying an additional 2,062,585 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Celgene Corp. during the first quarter valued at $119,631,000. Bank of Montreal Can acquired a new stake in shares of Celgene Corp. during the second quarter valued at $117,274,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of Celgene Corp. by 3,648.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,082,701 shares of the biopharmaceutical company’s stock valued at $106,825,000 after buying an additional 1,053,816 shares during the last quarter. 77.75% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Celgene Corp. from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a report on Friday. Jefferies Group reissued a “buy” rating and set a $134.00 price objective on shares of Celgene Corp. in a report on Thursday. BMO Capital Markets reissued an “outperform” rating and set a $141.00 price objective on shares of Celgene Corp. in a report on Monday, October 3rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $145.00 price objective on shares of Celgene Corp. in a report on Sunday, October 2nd. Finally, Citigroup Inc. lifted their price objective on shares of Celgene Corp. from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, September 29th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $137.44.
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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