Bray Capital Advisors Purchases New Position in Celgene Corporation (CELG)
Bray Capital Advisors purchased a new position in Celgene Corporation (NASDAQ:CELG) during the second quarter, according to its most recent filing with the SEC. The fund purchased 4,840 shares of the biopharmaceutical company’s stock, valued at approximately $628,000.
Other large investors have also recently made changes to their positions in the company. Motco increased its stake in shares of Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Celgene Corporation during the first quarter worth about $118,000. Oakworth Capital Inc. increased its stake in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the last quarter. Acropolis Investment Management LLC purchased a new stake in shares of Celgene Corporation during the second quarter worth about $144,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 380 shares during the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.
Celgene Corporation (CELG) traded up 3.08% during mid-day trading on Thursday, reaching $138.48. 3,274,222 shares of the company traded hands. The company’s 50 day moving average price is $133.39 and its 200 day moving average price is $125.39. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00. The firm has a market capitalization of $108.34 billion, a P/E ratio of 42.89 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. Celgene Corporation’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 EPS. Equities research analysts predict that Celgene Corporation will post $7.32 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $175.00 price target (up from $148.00) on shares of Celgene Corporation in a report on Monday, July 31st. Cantor Fitzgerald set a $160.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. BMO Capital Markets reissued an “outperform” rating and issued a $160.00 price target (up from $152.00) on shares of Celgene Corporation in a report on Friday, July 28th. Canaccord Genuity set a $156.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Tuesday, June 6th. Finally, BidaskClub raised shares of Celgene Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Celgene Corporation has a consensus rating of “Buy” and a consensus target price of $147.38.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total value of $1,161,707.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the transaction, the insider now directly owns 4,004 shares in the company, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders sold a total of 253,761 shares of company stock worth $33,792,445 in the last ninety days. 0.95% of the stock is currently owned by corporate 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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