Celgene Corporation (CELG) Sets New 12-Month High at $144.65
Celgene Corporation (NASDAQ:CELG) hit a new 52-week high during trading on Monday . The company traded as high as $144.65 and last traded at $144.66, with a volume of 2,360,433 shares. The stock had previously closed at $143.89.
A number of equities research analysts have commented on the company. BTIG Research lowered Celgene Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $96.93 to $131.70 in a research report on Friday, June 30th. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price objective for the company in a research report on Thursday, August 10th. SunTrust Banks, Inc. set a $150.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, July 6th. Canaccord Genuity set a $156.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, William Blair restated an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $149.34.
The stock has a market cap of $113.50 billion, a price-to-earnings ratio of 44.93 and a beta of 1.89. The stock’s 50 day moving average price is $135.45 and its 200-day moving average price is $127.81.
Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 earnings per share. On average, equities analysts predict that Celgene Corporation will post $7.32 EPS for the current year.
In other news, Director Michael D. Casey sold 9,250 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $139.03, for a total transaction of $1,286,027.50. Following the transaction, the director now owns 9,250 shares in the company, valued at $1,286,027.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now owns 69,424 shares in the company, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,506 shares of company stock worth $6,019,761. 0.95% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ardsley Advisory Partners increased its stake in shares of Celgene Corporation by 25.9% during the second quarter. Ardsley Advisory Partners now owns 136,000 shares of the biopharmaceutical company’s stock worth $17,661,000 after purchasing an additional 28,000 shares during the period. Intl Fcstone Inc. bought a new position in shares of Celgene Corporation during the second quarter worth approximately $788,000. Gs Investments Inc. bought a new position in shares of Celgene Corporation during the second quarter worth approximately $21,489,000. United Bank VA increased its stake in shares of Celgene Corporation by 7.1% during the second quarter. United Bank VA now owns 3,050 shares of the biopharmaceutical company’s stock worth $396,000 after purchasing an additional 202 shares during the period. Finally, Phocas Financial Corp. bought a new position in shares of Celgene Corporation during the second quarter worth approximately $192,000. Institutional investors own 79.33% of the company’s stock.
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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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