Canal Capital Management LLC cut its position in Celgene Corporation (NASDAQ:CELG) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 2,043 shares of the biopharmaceutical company’s stock after selling 82 shares during the period. Canal Capital Management LLC’s holdings in Celgene Corporation were worth $254,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CELG. Norges Bank purchased a new stake in shares of Celgene Corporation during the fourth quarter valued at about $694,111,000. Bank of Montreal Can boosted its stake 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 period. Asset Management One Co. Ltd. boosted its stake in shares of Celgene Corporation by 363.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,354,324 shares of the biopharmaceutical company’s stock valued at $156,883,000 after buying an additional 1,062,067 shares during the period. Polen Capital Management LLC boosted its stake in shares of Celgene Corporation by 27.0% in the fourth quarter. Polen Capital Management LLC now owns 4,352,572 shares of the biopharmaceutical company’s stock valued at $503,810,000 after buying an additional 926,521 shares during the period. Finally, State Street Corp boosted its stake in shares of Celgene Corporation by 3.0% in the fourth quarter. State Street Corp now owns 31,749,573 shares of the biopharmaceutical company’s stock valued at $3,675,047,000 after buying an additional 914,121 shares during the period. 78.24% of the stock is currently owned by institutional investors.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 122.36 on Friday. The company’s 50-day moving average price is $119.11 and its 200-day moving average price is $119.63. The company has a market cap of $95.54 billion, a P/E ratio of 45.95 and a beta of 1.82. Celgene Corporation has a 12 month low of $94.42 and a 12 month high of $127.64. Celgene Corporation also was the recipient of some unusual options trading on Friday. Traders purchased 1,785 call options on the stock. This represents an increase of approximately 104% compared to the average volume of 873 call options.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.21. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.04 billion. Celgene Corporation had a return on equity of 70.94% and a net margin of 18.32%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 EPS. Equities analysts forecast that Celgene Corporation will post $7.29 EPS for the current fiscal year.
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Several analysts have recently issued reports on the company. Jefferies Group LLC set a $154.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. set a $148.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald set a $159.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, February 18th. BidaskClub raised Celgene Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Celgene Corporation in a report on Wednesday, March 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $139.49.
In related news, Director Gilla Kaplan sold 14,033 shares of the business’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $123.83, for a total transaction of $1,737,706.39. Following the completion of the transaction, the director now directly owns 73,109 shares of the company’s stock, valued at approximately $9,053,087.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $124.00, for a total value of $1,147,000.00. Following the transaction, the director now directly owns 32,169 shares of the company’s stock, valued at $3,988,956. The disclosure for this sale can be found here. Insiders sold a total of 28,068 shares of company stock worth $3,459,768 in the last quarter. Company insiders own 0.95% of the company’s stock.
About Celgene Corporation
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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