Meyer Handelman Co. acquired a new stake in Celgene Corp. (NASDAQ:CELG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,100 shares of the biopharmaceutical company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently bought and sold shares of the company. Macguire Cheswick & Tuttle Investment Counsel LLC increased its stake in Celgene Corp. by 10.7% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 81,459 shares of the biopharmaceutical company’s stock valued at $8,034,000 after buying an additional 7,867 shares in the last quarter. Westwood Management Corp IL increased its stake in Celgene Corp. by 1.0% in the second quarter. Westwood Management Corp IL now owns 134,830 shares of the biopharmaceutical company’s stock valued at $13,298,000 after buying an additional 1,300 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Celgene Corp. by 27.5% in the second quarter. Checchi Capital Advisers LLC now owns 6,994 shares of the biopharmaceutical company’s stock valued at $690,000 after buying an additional 1,509 shares in the last quarter. LS Investment Advisors LLC increased its stake in Celgene Corp. by 1.4% in the second quarter. LS Investment Advisors LLC now owns 10,690 shares of the biopharmaceutical company’s stock valued at $1,054,000 after buying an additional 152 shares in the last quarter. Finally, Atwood & Palmer Inc. increased its stake in Celgene Corp. by 1.7% in the second quarter. Atwood & Palmer Inc. now owns 156,343 shares of the biopharmaceutical company’s stock valued at $15,420,000 after buying an additional 2,543 shares in the last quarter. 77.81% of the stock is owned by institutional investors and hedge funds.

Shares of Celgene Corp. (NASDAQ:CELG) traded up 1.11% during mid-day trading on Friday, reaching $108.54. 5,923,959 shares of the company’s stock traded hands. The company has a 50 day moving average of $110.62 and a 200 day moving average of $104.86. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39. The company has a market cap of $84.13 billion, a price-to-earnings ratio of 45.87 and a beta of 1.31.

Celgene Corp. (NASDAQ:CELG) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.05. The firm earned $2.74 billion during the quarter, compared to the consensus estimate of $2.70 billion. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Analysts expect that Celgene Corp. will post $5.71 earnings per share for the current fiscal year.

Several analysts recently issued reports on the stock. Bank of America Corp. reaffirmed a “buy” rating and set a $128.00 price objective on shares of Celgene Corp. in a report on Friday. Canaccord Genuity set a $156.00 price objective on shares of Celgene Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Robert W. Baird reissued an “outperform” rating and issued a $162.00 price target on shares of Celgene Corp. in a report on Tuesday, September 13th. BMO Capital Markets reissued an “outperform” rating and issued a $141.00 price target on shares of Celgene Corp. in a report on Tuesday, September 13th. Finally, Jefferies Group reissued a “buy” rating and issued a $137.00 price target on shares of Celgene Corp. in a report on Tuesday, September 13th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $138.10.

In other news, Director Gilla Kaplan sold 9,710 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $106.44, for a total value of $1,033,532.40. Following the completion of the transaction, the director now owns 72,142 shares of the company’s stock, valued at $7,678,794.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert J. Hugin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $110.00, for a total value of $11,000,000.00. Following the completion of the transaction, the insider now directly owns 1,022,201 shares of the company’s stock, valued at approximately $112,442,110. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Celgene Corp. Company Profile

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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