Meyer Handelman Co. acquired a new stake in shares of Celgene Corp. (NASDAQ:CELG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,100 shares of the biopharmaceutical company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CELG. Jolley Asset Management LLC increased its position in Celgene Corp. by 58.8% in the second quarter. Jolley Asset Management LLC now owns 1,215 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 450 shares in the last quarter. Kings Point Capital Management increased its position in Celgene Corp. by 1.7% in the first quarter. Kings Point Capital Management now owns 1,316 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 22 shares in the last quarter. Integrated Investment Consultants LLC increased its position in Celgene Corp. by 21.8% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 240 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in Celgene Corp. by 0.9% in the first quarter. Ropes Wealth Advisors LLC now owns 1,477 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 13 shares in the last quarter. Finally, Opera Trading Capital increased its position in Celgene Corp. by 135.7% in the first quarter. Opera Trading Capital now owns 1,563 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 900 shares in the last quarter. 77.81% of the stock is owned by institutional investors.

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

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

Several analysts recently commented on the company. Argus reiterated a “buy” rating and issued a $155.00 target price on shares of Celgene Corp. in a report on Wednesday, September 7th. Cowen and Company reiterated a “buy” rating and issued a $150.00 target price on shares of Celgene Corp. in a report on Thursday, July 28th. Leerink Swann reiterated a “market perform” rating and issued a $135.00 target price on shares of Celgene Corp. in a report on Monday, September 12th. Bank of America Corp. reiterated a “buy” rating and issued a $125.00 target price on shares of Celgene Corp. in a report on Wednesday, June 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $138.00 target price on shares of Celgene Corp. in a report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $138.10.

In other news, Director Gilla Kaplan sold 9,710 shares of the business’s stock in a transaction 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 in the company, valued at $7,678,794.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Loughlin sold 27,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $114.10, for a total value of $3,137,750.00. Following the completion of the transaction, the director now owns 42,919 shares of the company’s stock, valued at approximately $4,897,057.90. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

About Celgene Corp.

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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