Biondo Investment Advisors LLC lowered its stake in Celgene Corp. (NASDAQ:CELG) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,937 shares of the biopharmaceutical company’s stock after selling 2,297 shares during the period. Celgene Corp. accounts for approximately 5.0% of Biondo Investment Advisors LLC’s holdings, making the stock its 4th largest position. Biondo Investment Advisors LLC’s holdings in Celgene Corp. were worth $13,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in shares of 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. Atwood & Palmer Inc. raised its position in shares of 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. Jolley Asset Management LLC raised its position in shares of 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. TIAA CREF Trust Co. FSB MO raised its position in shares of Celgene Corp. by 16.6% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 131,602 shares of the biopharmaceutical company’s stock valued at $12,980,000 after buying an additional 18,732 shares in the last quarter. Finally, Meristem LLP raised its position in shares of Celgene Corp. by 1.7% in the second quarter. Meristem LLP now owns 2,391 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 40 shares in the last quarter. 77.81% of the stock is owned by institutional investors and hedge funds.

Celgene Corp. (NASDAQ:CELG) traded up 1.11% on Friday, hitting $108.54. 5,923,959 shares of the stock were exchanged. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39. The company has a 50-day moving average of $110.62 and a 200 day moving average of $104.86. The firm has a market cap of $84.13 billion, a P/E 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.05. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts expect that Celgene Corp. will post $5.71 earnings per share for the current fiscal year.

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

In related news, insider Robert J. Hugin sold 100,000 shares of the firm’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 sale, the insider now owns 1,022,201 shares in the company, valued at $112,442,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilla Kaplan sold 9,710 shares of the firm’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 transaction of $1,033,532.40. Following the completion of the sale, the director now owns 72,142 shares in the company, valued at approximately $7,678,794.48. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

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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