Michael A. Friedman Sells 18,600 Shares of Celgene Corp. (CELG) Stock
Celgene Corp. (NASDAQ:CELG) Director Michael A. Friedman sold 18,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $116.10, for a total value of $2,159,460.00. Following the transaction, the director now owns 18,600 shares of the company’s stock, valued at $2,159,460. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Celgene Corp. (NASDAQ:CELG) opened at 119.45 on Monday. The stock has a market capitalization of $92.60 billion, a PE ratio of 45.37 and a beta of 1.71. The stock has a 50 day moving average price of $104.35 and a 200 day moving average price of $105.38. Celgene Corp. has a 52 week low of $93.05 and a 52 week high of $127.00.
Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.84 billion. Celgene Corp. had a return on equity of 70.48% and a net margin of 19.71%. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. Equities analysts forecast that Celgene Corp. will post $5.92 EPS for the current year.
Several large investors have recently bought and sold shares of the stock. Seven Eight Capital LLC increased its stake in Celgene Corp. by 1,121.4% in the first quarter. Seven Eight Capital LLC now owns 17,100 shares of the biopharmaceutical company’s stock valued at $1,712,000 after buying an additional 15,700 shares in the last quarter. Summit Partners Public Asset Management LLC increased its stake in shares of Celgene Corp. by 50.0% in the first quarter. Summit Partners Public Asset Management LLC now owns 45,000 shares of the biopharmaceutical company’s stock valued at $4,504,000 after buying an additional 15,000 shares during the period. Cormorant Asset Management LLC bought a new stake in shares of Celgene Corp. during the first quarter valued at $10,009,000. Kelly Lawrence W & Associates Inc. CA increased its stake in shares of Celgene Corp. by 1.0% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 92,023 shares of the biopharmaceutical company’s stock valued at $9,211,000 after buying an additional 875 shares during the period. Finally, Chilton Capital Management LLC increased its stake in shares of Celgene Corp. by 14.3% in the first quarter. Chilton Capital Management LLC now owns 117,920 shares of the biopharmaceutical company’s stock valued at $11,803,000 after buying an additional 14,767 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.
Several research analysts have weighed in on the company. Canaccord Genuity restated an “outperform” rating and issued a $156.00 price target on shares of Celgene Corp. in a research note on Sunday, July 17th. Vetr downgraded Celgene Corp. from a “buy” rating to a “hold” rating and set a $106.17 price target for the company. in a research note on Monday, July 18th. JPMorgan Chase & Co. set a $136.00 price target on Celgene Corp. and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Jefferies Group restated a “buy” rating and issued a $138.00 price target on shares of Celgene Corp. in a research note on Tuesday, July 26th. Finally, RBC Capital Markets restated a “buy” rating on shares of Celgene Corp. in a research note on Tuesday, July 26th. Four investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $135.74.
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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