Celgene Corporation (CELG) Holdings Lifted by Spinnaker Trust
Spinnaker Trust raised its stake in Celgene Corporation (NASDAQ:CELG) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,007 shares of the biopharmaceutical company’s stock after buying an additional 414 shares during the quarter. Spinnaker Trust’s holdings in Celgene Corporation were worth $2,079,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Celgene Corporation during the first quarter worth about $118,000. Oakworth Capital Inc. increased its stake in Celgene Corporation by 60.9% during the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 412 shares during the period. Acropolis Investment Management LLC purchased a new stake in Celgene Corporation during the second quarter worth about $144,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Celgene Corporation by 47.5% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 380 shares during the period. Finally, WealthTrust Arizona LLC increased its stake in Celgene Corporation by 5.2% during the second quarter. WealthTrust Arizona LLC now owns 1,276 shares of the biopharmaceutical company’s stock worth $166,000 after purchasing an additional 63 shares during the period. 79.33% of the stock is currently owned by institutional investors.
In other Celgene Corporation news, Director Michael A. Friedman sold 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $132.50, for a total transaction of $1,325,000.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $662,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the transaction, the director now owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,226 shares of company stock valued at $34,651,134. 0.95% of the stock is owned by company insiders.
A number of brokerages have issued reports on CELG. Jefferies Group LLC reiterated a “buy” rating and set a $160.00 price target on shares of Celgene Corporation in a research note on Friday. Mizuho boosted their price target on shares of Celgene Corporation from $134.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada began coverage on shares of Celgene Corporation in a research note on Thursday, September 14th. They set a “top pick” rating and a $176.00 price target on the stock. Bank of America Corporation reiterated a “buy” rating on shares of Celgene Corporation in a research note on Wednesday, September 13th. Finally, Cowen and Company reiterated a “buy” rating and set a $150.00 price target on shares of Celgene Corporation in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $149.34.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 142.84 on Tuesday. The company’s 50 day moving average price is $135.22 and its 200 day moving average price is $127.66. The firm has a market capitalization of $111.75 billion, a P/E ratio of 44.24 and a beta of 1.89. Celgene Corporation has a one year low of $96.93 and a one year high of $142.89.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS. On average, analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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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