Columbia Partners L L C Investment Management lowered its stake in Celgene Corporation (NASDAQ:CELG) by 13.4% during the first quarter, Holdings Channel reports. The firm owned 40,859 shares of the biopharmaceutical company’s stock after selling 6,310 shares during the period. Columbia Partners L L C Investment Management’s holdings in Celgene Corporation were worth $5,084,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CELG. State Street Corp raised its stake in Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after buying an additional 723,844 shares during the period. 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 period. American Century Companies Inc. raised its stake in Celgene Corporation by 4.4% in the first quarter. American Century Companies Inc. now owns 6,563,791 shares of the biopharmaceutical company’s stock valued at $816,733,000 after buying an additional 276,089 shares during the period. 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 period. Finally, Legal & General Group Plc raised its stake in Celgene Corporation by 4.3% in the first quarter. Legal & General Group Plc now owns 3,587,623 shares of the biopharmaceutical company’s stock valued at $446,406,000 after buying an additional 147,263 shares during the period. Institutional investors own 78.34% of the company’s stock.

Shares of Celgene Corporation (CELG) traded up 0.60% during mid-day trading on Friday, hitting $128.34. The stock had a trading volume of 1,219,430 shares. The stock has a market cap of $100.41 billion, a P/E ratio of 39.75 and a beta of 1.89. The company’s 50 day moving average price is $133.85 and its 200 day moving average price is $124.82. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00.

Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the company earned $1.44 EPS. The firm’s revenue was up 18.7% on a year-over-year basis. Equities research analysts predict that Celgene Corporation will post $7.32 EPS for the current fiscal year.

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Several equities research analysts have commented on CELG shares. BTIG Research lowered Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Leerink Swann reiterated an “outperform” rating and set a $160.00 price objective (up from $150.00) on shares of Celgene Corporation in a research note on Friday, July 28th. Argus upgraded Celgene Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $96.93 to $160.00 in a research note on Monday, July 31st. Credit Suisse Group set a $148.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a research note on Thursday, July 6th. Finally, Cann reiterated a “buy” rating on shares of Celgene Corporation in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $147.00.

In related news, 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 transaction of $575,061.30. Following the completion of the sale, the insider now directly owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the company’s stock in a transaction on 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 directly owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,761 shares of company stock valued at $33,792,445. 0.95% of the stock is owned by corporate insiders.

Celgene Corporation Company Profile

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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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