Wellington Shields Capital Management LLC Has $4.67 Million Position in Celgene Corporation (CELG)
Wellington Shields Capital Management LLC raised its position in shares of Celgene Corporation (NASDAQ:CELG) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,990 shares of the biopharmaceutical company’s stock after buying an additional 2,300 shares during the period. Celgene Corporation comprises about 0.8% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Wellington Shields Capital Management LLC’s holdings in Celgene Corporation were worth $4,674,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Investec Asset Management LTD acquired a new stake in Celgene Corporation during the first quarter worth $194,490,000. Clearbridge Investments LLC increased its stake 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. State Street Corp increased its stake 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. Pioneer Investment Management Inc. increased its stake 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, Swiss National Bank increased its stake in Celgene Corporation by 27.2% in the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock worth $341,796,000 after buying an additional 588,000 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.
Celgene Corporation (NASDAQ CELG) traded up 2.21% during trading on Wednesday, reaching $135.37. 1,657,061 shares of the company traded hands. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00. The firm’s 50 day moving average price is $133.39 and its 200 day moving average price is $125.39. The firm has a market capitalization of $105.91 billion, a price-to-earnings ratio of 41.92 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $3.23 billion. During the same period in the prior year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. Equities research analysts expect that Celgene Corporation will post $7.32 earnings per share for the current year.
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Several research analysts have commented on the stock. Leerink Swann upgraded shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $94.42 to $150.00 in a research report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $98.00 price objective (up from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. William Blair restated an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. BTIG Research downgraded shares of Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $96.93 to $131.70 in a research report on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $147.38.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction dated Thursday, June 15th. The stock was 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 in the company, valued at $481,200.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,761 shares of company stock worth $33,792,445. 0.95% of the stock is owned by company 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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