Quantitative Investment Management LLC acquired a new position in shares of Celgene Corporation (NASDAQ:CELG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,100 shares of the biopharmaceutical company’s stock, valued at approximately $7,104,000.
Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Celgene Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock worth $1,255,309,000 after buying an additional 472,067 shares during the last quarter. American Century Companies Inc. raised its position in shares of Celgene Corporation by 4.4% in the first quarter. American Century Companies Inc. now owns 6,563,791 shares of the biopharmaceutical company’s stock valued at $816,733,000 after buying an additional 276,089 shares during the last quarter. Norges Bank acquired a new position in shares of Celgene Corporation during the fourth quarter valued at approximately $694,111,000. Pioneer Investment Management Inc. raised its position in shares of Celgene Corporation by 15.7% in the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock valued at $650,911,000 after buying an additional 710,584 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock valued at $410,615,000 after buying an additional 1,979,061 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.
Shares of Celgene Corporation (NASDAQ:CELG) traded down 0.18% during trading on Wednesday, hitting $131.14. The stock had a trading volume of 289,977 shares. The firm’s 50-day moving average is $134.03 and its 200 day moving average is $124.75. The firm has a market cap of $102.60 billion, a price-to-earnings ratio of 40.61 and a beta of 1.89. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $139.00.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the company earned $1.44 EPS. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, analysts expect that Celgene Corporation will post $7.32 EPS for the current year.
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CELG has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and set a $138.00 price objective on shares of Celgene Corporation in a report on Wednesday, May 24th. Argus raised Celgene Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $96.93 to $160.00 in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Celgene Corporation in a research note on Tuesday, July 11th. Zacks Investment Research downgraded Celgene Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Cantor Fitzgerald set a $160.00 price objective on Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $147.00.
In other Celgene Corporation news, Director Ernest Mario sold 18,506 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the completion of the transaction, the director now directly owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the transaction, the insider now directly owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,761 shares of company stock valued at $33,792,445. 0.95% of the stock is owned by corporate insiders.
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.
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