Pennsylvania Trust Co Buys 20,508 Shares of Celgene Corporation (CELG)
Pennsylvania Trust Co raised its stake in shares of Celgene Corporation (NASDAQ:CELG) by 39.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,636 shares of the biopharmaceutical company’s stock after purchasing an additional 20,508 shares during the quarter. Pennsylvania Trust Co’s holdings in Celgene Corporation were worth $9,433,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Celgene Corporation during the first quarter valued at approximately $118,000. Oakworth Capital Inc. boosted its holdings in Celgene Corporation by 60.9% during the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after purchasing an additional 412 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Celgene Corporation by 47.5% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 380 shares in the last quarter. Schmidt P J Investment Management Inc. acquired a new stake in Celgene Corporation during the first quarter valued at approximately $201,000. Finally, North Star Asset Management Inc. acquired a new stake in Celgene Corporation during the first quarter valued at approximately $201,000. 79.33% of the stock is currently owned by institutional investors.
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In related news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total value of $1,309,430.00. Following the transaction, the director now owns 85,551 shares in the company, valued at $12,110,599.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James J. Loughlin sold 18,500 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $133.57, for a total transaction of $2,471,045.00. Following the completion of the transaction, the director now owns 32,877 shares in the company, valued at approximately $4,391,380.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,006 shares of company stock worth $8,490,806. 0.95% of the stock is owned by company insiders.
CELG has been the topic of a number of recent research reports. Leerink Swann raised Celgene Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Celgene Corporation in a report on Monday, August 28th. BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $96.93 to $131.70 in a report on Friday, June 30th. Finally, BidaskClub raised Celgene Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Celgene Corporation has a consensus rating of “Buy” and an average target price of $149.34.
Celgene Corporation (CELG) traded up 0.08% during mid-day trading on Friday, hitting $143.89. 3,549,466 shares of the company were exchanged. The company has a market capitalization of $112.57 billion, a P/E ratio of 44.56 and a beta of 1.89. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $144.19. The company’s 50-day moving average is $135.45 and its 200 day moving average is $127.81.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. Analysts expect that Celgene Corporation will post $7.32 EPS for the current year.
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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