Pitcairn Co. boosted its stake in Celgene Corp. (NASDAQ:CELG) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,948 shares of the biopharmaceutical company’s stock after buying an additional 38 shares during the period. Pitcairn Co.’s holdings in Celgene Corp. were worth $488,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position 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 worth $911,417,000 after buying an additional 2,062,585 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Celgene Corp. during the first quarter worth about $119,631,000. Bank of Montreal Can acquired a new position in shares of Celgene Corp. during the second quarter worth about $117,274,000. Bristol John W & Co. Inc. NY acquired a new position in shares of Celgene Corp. during the second quarter worth about $52,246,000. Finally, Vontobel Asset Management Inc. raised its position in shares of Celgene Corp. by 16.0% in the first quarter. Vontobel Asset Management Inc. now owns 2,623,790 shares of the biopharmaceutical company’s stock worth $273,045,000 after buying an additional 361,656 shares during the last quarter. Institutional investors own 77.75% of the company’s stock.
Shares of Celgene Corp. (NASDAQ:CELG) traded down 1.03% during mid-day trading on Friday, reaching $109.43. 3,071,064 shares of the company’s stock traded hands. Celgene Corp. has a 12-month low of $93.05 and a 12-month high of $128.39. The firm’s 50 day moving average price is $109.72 and its 200-day moving average price is $105.14. The stock has a market cap of $84.82 billion, a price-to-earnings ratio of 46.25 and a beta of 1.31.
Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. Equities research analysts forecast that Celgene Corp. will post $5.71 earnings per share for the current year.
CELG has been the topic of a number of analyst reports. BTIG Research restated a “buy” rating and set a $138.00 target price on shares of Celgene Corp. in a research report on Sunday, August 21st. Cantor Fitzgerald restated a “buy” rating on shares of Celgene Corp. in a research report on Wednesday, June 8th. JPMorgan Chase & Co. restated an “overweight” rating and set a $136.00 target price on shares of Celgene Corp. in a research report on Friday, August 19th. RBC Capital Markets reaffirmed a “buy” rating on shares of Celgene Corp. in a report on Tuesday, July 26th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $128.00 price target on shares of Celgene Corp. in a report on Friday, September 16th. Four research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Celgene Corp. currently has an average rating of “Buy” and a consensus price target of $138.20.
In other Celgene Corp. news, Director Michael D. Casey sold 43,134 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $114.01, for a total transaction of $4,917,707.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gilla Kaplan sold 9,710 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $106.44, for a total transaction of $1,033,532.40. Following the transaction, the director now directly owns 72,142 shares in the company, valued at $7,678,794.48. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
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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