Arizona State Retirement System Boosts Position in Celgene Corporation (CELG)
Arizona State Retirement System raised its stake in shares of Celgene Corporation (NASDAQ:CELG) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,618 shares of the biopharmaceutical company’s stock after buying an additional 1,000 shares during the period. Arizona State Retirement System’s holdings in Celgene Corporation were worth $23,967,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Pioneer Investment Management Inc. raised its stake in Celgene Corporation by 15.7% in the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock valued at $650,911,000 after buying an additional 710,584 shares during the last quarter. Swiss National Bank raised its stake in Celgene Corporation by 27.2% in the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock valued at $341,796,000 after buying an additional 588,000 shares during the last quarter. Smith Asset Management Group LP acquired a new stake in Celgene Corporation during the first quarter valued at approximately $71,276,000. Bank of New York Mellon Corp raised its stake in Celgene Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock valued at $1,255,309,000 after buying an additional 472,067 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Celgene Corporation during the first quarter valued at approximately $49,750,000. 79.43% of the stock is owned by hedge funds and other institutional investors.
Celgene Corporation (NASDAQ CELG) traded up 0.32% during trading on Friday, reaching $139.38. The company’s stock had a trading volume of 3,901,207 shares. The stock has a market capitalization of $109.04 billion, a PE ratio of 43.17 and a beta of 1.88. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $140.25. The stock has a 50 day moving average price of $133.73 and a 200 day moving average price of $126.08. Celgene Corporation also saw unusually large options trading on Thursday. Stock investors acquired 9,159 put options on the stock. This represents an increase of approximately 162% compared to the average volume of 3,491 put options.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share 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 company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Celgene Corporation’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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Several equities research analysts have recently commented on CELG shares. Leerink Swann raised shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the company from $94.42 to $150.00 in a research report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $98.00 price target (up previously from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. William Blair reaffirmed an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and upped their price target for the company from $96.93 to $131.70 in a research report on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $147.38.
In other Celgene Corporation news, Director Ernest Mario sold 18,506 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the sale, the director now owns 69,424 shares in the company, valued at approximately $9,061,220.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $125.59, for a total value of $1,161,707.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,761 shares of company stock worth $33,792,445. 0.95% of the stock is owned by company insiders.
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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