First Manhattan Co. Sells 4,556 Shares of Celgene Corporation (CELG)
First Manhattan Co. decreased its position in shares of Celgene Corporation (NASDAQ:CELG) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,679 shares of the biopharmaceutical company’s stock after selling 4,556 shares during the quarter. First Manhattan Co.’s holdings in Celgene Corporation were worth $23,724,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Waldron LP grew its position in Celgene Corporation by 48.9% in the first quarter. Waldron LP now owns 5,207 shares of the biopharmaceutical company’s stock worth $640,000 after acquiring an additional 1,709 shares during the period. Deltec Asset Management LLC acquired a new position in shares of Celgene Corporation in the 1st quarter valued at $747,000. iAB Financial Bank acquired a new position in shares of Celgene Corporation in the 1st quarter valued at $324,000. Moloney Securities Asset Management LLC lifted its stake in shares of Celgene Corporation by 20.8% in the 1st quarter. Moloney Securities Asset Management LLC now owns 6,104 shares of the biopharmaceutical company’s stock valued at $760,000 after purchasing an additional 1,050 shares during the last quarter. Finally, KAMES CAPITAL plc lifted its stake in shares of Celgene Corporation by 8.1% in the 1st quarter. KAMES CAPITAL plc now owns 792,379 shares of the biopharmaceutical company’s stock valued at $98,596,000 after purchasing an additional 59,595 shares during the last quarter. 79.36% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on CELG. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $175.00 price target (up from $148.00) on shares of Celgene Corporation in a report on Monday, July 31st. Cantor Fitzgerald set a $160.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 target price (up previously from $152.00) on shares of Celgene Corporation in a research report on Friday, July 28th. Canaccord Genuity set a $156.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. Finally, BidaskClub raised shares of Celgene Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Celgene Corporation presently has a consensus rating of “Buy” and an average price target of $150.54.
In other Celgene Corporation news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the sale, the director now owns 85,551 shares in the company, valued at $12,110,599.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. Insiders sold 46,233 shares of company stock valued at $6,268,259 over the last quarter. Insiders own 0.95% of the company’s stock.
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Celgene Corporation (NASDAQ:CELG) opened at 146.04 on Tuesday. Celgene Corporation has a one year low of $96.93 and a one year high of $147.17. The stock has a market cap of $114.25 billion, a price-to-earnings ratio of 45.23 and a beta of 1.89. The firm’s 50 day moving average price is $137.92 and its 200 day moving average price is $129.09.
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, beating analysts’ consensus estimates of $1.61 by $0.21. The business 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 company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. Equities analysts forecast that Celgene Corporation will post $7.32 earnings per share for the current 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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