Sit Investment Associates Inc. Decreases Position in Celgene Corp. (CELG)
Sit Investment Associates Inc. reduced its stake in shares of Celgene Corp. (NASDAQ:CELG) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,395 shares of the biopharmaceutical company’s stock after selling 5,125 shares during the period. Sit Investment Associates Inc.’s holdings in Celgene Corp. were worth $10,198,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. EagleClaw Capital Managment LLC acquired a new stake in shares of Celgene Corp. during the first quarter valued at $698,000. Ngam Advisors L.P. boosted its stake in shares of Celgene Corp. by 54.7% in the first quarter. Ngam Advisors L.P. now owns 160,489 shares of the biopharmaceutical company’s stock valued at $16,064,000 after buying an additional 56,772 shares during the last quarter. Morris Capital Advisors LLC acquired a new stake in shares of Celgene Corp. during the first quarter valued at $4,205,000. Analyst IMS Investment Management Services Ltd. boosted its stake in shares of Celgene Corp. by 16.1% in the first quarter. Analyst IMS Investment Management Services Ltd. now owns 8,055 shares of the biopharmaceutical company’s stock valued at $807,000 after buying an additional 1,120 shares during the last quarter. Finally, Dubuque Bank & Trust Co. boosted its stake in shares of Celgene Corp. by 42.9% in the first quarter. Dubuque Bank & Trust Co. now owns 35,107 shares of the biopharmaceutical company’s stock valued at $3,514,000 after buying an additional 10,533 shares during the last quarter. 77.75% of the stock is owned by institutional investors.
Celgene Corp. (NASDAQ:CELG) traded up 0.46% during midday trading on Monday, reaching $104.55. 1,205,297 shares of the company traded hands. The company’s 50-day moving average price is $107.29 and its 200 day moving average price is $105.50. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39. The firm has a market capitalization of $81.04 billion, a PE ratio of 44.19 and a beta of 1.49.
Celgene Corp. (NASDAQ:CELG) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.39 by $0.05. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. On average, equities analysts anticipate that Celgene Corp. will post $5.71 earnings per share for the current year.
Several brokerages have recently weighed in on CELG. Canaccord Genuity set a $156.00 price target on shares of Celgene Corp. and gave the stock a “buy” rating in a research report on Sunday, September 18th. RBC Capital Markets reaffirmed a “buy” rating on shares of Celgene Corp. in a research report on Tuesday, July 26th. Citigroup Inc. upped their price target on shares of Celgene Corp. from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, September 29th. Piper Jaffray Cos. reiterated a “buy” rating on shares of Celgene Corp. in a research note on Monday, September 12th. Finally, Jefferies Group reiterated a “buy” rating and set a $137.00 price objective on shares of Celgene Corp. in a research note on Tuesday, September 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $137.44.
In related news, insider Robert J. Hugin sold 100,000 shares of the business’s 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 sale, the insider now directly owns 1,022,201 shares in the company, valued at approximately $112,442,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Casey sold 43,134 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $114.01, for a total transaction of $4,917,707.34. 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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