Celgene Corporation (CELG) Shares Gap Down to $140.01
Celgene Corporation (NASDAQ:CELG)’s share price gapped down before the market opened on Friday . The stock had previously closed at $137.08, but opened at $140.01. Celgene Corporation shares last traded at $138.61, with a volume of 3,043,208 shares.
Several equities analysts have recently commented on CELG shares. BidaskClub upgraded shares of Celgene Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Wednesday, June 14th. Leerink Swann raised shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. Finally, BTIG Research downgraded shares of Celgene Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $150.60.
The stock has a market capitalization of $108.91 billion, a PE ratio of 43.11 and a beta of 1.88. The company has a 50-day moving average of $139.31 and a 200 day moving average of $129.53. Celgene Corporation also was the recipient of some unusual options trading on Thursday. Stock traders acquired 12,607 put options on the company. This represents an increase of 260% compared to the average daily volume of 3,499 put options.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the company earned $1.44 EPS. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities analysts predict that Celgene Corporation will post $7.32 EPS for the current year.
In other news, Director Ernest Mario sold 18,506 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,233 shares of company stock valued at $6,268,259. Insiders own 0.95% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. boosted its position in shares of Celgene Corporation by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Celgene Corporation in the first quarter worth approximately $118,000. Motco boosted its holdings in Celgene Corporation by 19.3% in the second quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 159 shares in the last quarter. Penserra Capital Management LLC bought a new position in Celgene Corporation in the second quarter worth approximately $129,000. Finally, Balentine LLC boosted its holdings in Celgene Corporation by 83.5% in the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 481 shares in the last quarter. Institutional investors own 79.36% of the company’s stock.
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About Celgene Corporation
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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