Stock Traders Buy High Volume of Put Options on Celgene Corporation (CELG)
Celgene Corporation (NASDAQ:CELG) was the target of unusually large options trading on Thursday. Traders acquired 12,607 put options on the company. This is an increase of 260% compared to the average volume of 3,499 put options.
Celgene Corporation (CELG) opened at 139.27 on Tuesday. The firm has a 50-day moving average price of $139.64 and a 200 day moving average price of $129.73. The company has a market capitalization of $108.96 billion, a P/E ratio of 43.13 and a beta of 1.89. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $147.17.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly 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 return on equity of 68.51% and a net margin of 21.35%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue was up 18.7% compared to the same quarter last year. On average, analysts predict that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
A number of research analysts have commented on CELG shares. Bank of America Corporation reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Celgene Corporation in a report on Monday, July 10th. SunTrust Banks, Inc. set a $150.00 price objective on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Credit Suisse Group set a $148.00 price objective on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $139.00 price objective on shares of Celgene Corporation in a report on Thursday, July 6th. Finally, Cantor Fitzgerald set a $160.00 price objective on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $150.60.
In related news, insider Terrie Curran sold 1,727 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the transaction, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Mario sold 18,506 shares of the business’s 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 directly owns 69,424 shares in the company, valued at $9,061,220.48. The disclosure for this sale can be found here. Insiders have sold a total of 46,233 shares of company stock worth $6,268,259 over the last three months. 0.95% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. lifted its stake in Celgene Corporation by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation during the first quarter worth about $118,000. Motco lifted its stake in Celgene Corporation by 19.3% during the second quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 159 shares during the last quarter. Balentine LLC lifted its stake in Celgene Corporation by 83.5% during the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 481 shares during the last quarter. Finally, Acropolis Investment Management LLC bought a new stake in Celgene Corporation during the second quarter worth about $144,000. 79.36% of the stock is owned by hedge funds and other institutional investors.
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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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