Ipswich Investment Management Co. Inc. lowered its position in shares of Celgene Corporation (NASDAQ:CELG) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,403 shares of the biopharmaceutical company’s stock after selling 2,195 shares during the period. Celgene Corporation makes up about 1.6% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 22nd largest position. Ipswich Investment Management Co. Inc.’s holdings in Celgene Corporation were worth $3,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after buying an additional 723,844 shares during the last quarter. 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 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 worth $816,733,000 after buying an additional 276,089 shares during the last quarter. Pioneer Investment Management Inc. raised its position in 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 worth $650,911,000 after buying an additional 710,584 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Celgene Corporation by 24.1% in the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock worth $572,617,000 after buying an additional 892,392 shares during the last quarter. 78.34% of the stock is owned by institutional investors and hedge funds.

Celgene Corporation (NASDAQ:CELG) traded up 0.12% during trading on Wednesday, hitting $131.53. The stock had a trading volume of 1,061,945 shares. The firm has a market cap of $102.90 billion, a PE ratio of 40.73 and a beta of 1.89. The company’s 50 day moving average is $134.03 and its 200 day moving average is $124.75. 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 for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. Equities research analysts forecast that Celgene Corporation will post $7.32 earnings per share for the current year.

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CELG has been the subject of several research reports. BTIG Research lowered Celgene Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $96.93 to $131.70 in a research report on Friday, June 30th. Leerink Swann reissued an “outperform” rating and issued a $160.00 target price (up previously from $150.00) on shares of Celgene Corporation in a research report on Friday, July 28th. Argus raised Celgene Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $96.93 to $160.00 in a research report on Monday, July 31st. Credit Suisse Group set a $148.00 target price on Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, July 6th. Finally, Cann reissued a “buy” rating on shares of Celgene Corporation in a research report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Celgene Corporation has a consensus rating of “Buy” and a consensus price target of $147.00.

In other news, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the sale, the insider now directly owns 1,033,909 shares of the company’s stock, valued at $138,688,553.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the sale, the insider now directly owns 4,004 shares in the company, valued at $481,200.72. The disclosure for this sale can be found here. Insiders have sold 253,761 shares of company stock worth $33,792,445 over the last three months. Corporate insiders own 0.95% of the company’s stock.

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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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