Insight Capital Research & Management Inc. Buys New Stake in Celgene Corporation (CELG)
Insight Capital Research & Management Inc. bought a new stake in Celgene Corporation (NASDAQ:CELG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,542 shares of the biopharmaceutical company’s stock, valued at approximately $1,759,000.
Other institutional investors have also added to or reduced their stakes in the company. Motco increased its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Celgene Corporation during the first quarter worth approximately $118,000. Carroll Financial Associates Inc. raised its stake in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 400 shares during the period. Oakworth Capital Inc. raised its stake in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the period. Finally, Acropolis Investment Management LLC bought a new stake in Celgene Corporation during the second quarter worth about $144,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.
Shares of Celgene Corporation (NASDAQ CELG) traded down 0.04% during mid-day trading on Monday, hitting $127.60. The company had a trading volume of 1,399,142 shares. The firm’s 50 day moving average is $133.74 and its 200-day moving average is $124.92. The firm has a market cap of $99.83 billion, a PE ratio of 39.52 and a beta of 1.89. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 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 for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm earned $1.44 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts expect that Celgene Corporation will post $7.32 EPS for the current year.
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CELG has been the subject of a number of recent research reports. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 target price (up previously from $120.00) on shares of Celgene Corporation in a research note on Sunday, April 23rd. Cann reiterated a “buy” rating on shares of Celgene Corporation in a research note on Thursday, April 27th. Cantor Fitzgerald set a $159.00 target price on Celgene Corporation and gave the company a “buy” rating in a research note on Thursday, April 27th. BTIG Research reiterated a “buy” rating and issued a $138.00 target price on shares of Celgene Corporation in a research note on Monday, May 1st. Finally, Argus lowered Celgene Corporation from a “buy” rating to a “hold” rating and increased their target price for the company from $123.91 to $124.46 in a research note on Friday, May 5th. They noted that the move was a valuation call. One equities research 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 given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $147.44.
In related news, insider Rupert Vessey sold 4,785 shares of the 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 transaction, the insider now owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the transaction, the director now directly owns 76,301 shares in the company, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,761 shares of company stock worth $33,792,445. 0.95% of the stock is owned by 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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