Selway Asset Management Sells 100 Shares of Celgene Corporation (CELG)
Selway Asset Management reduced its stake in Celgene Corporation (NASDAQ:CELG) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,975 shares of the biopharmaceutical company’s stock after selling 100 shares during the quarter. Celgene Corporation makes up approximately 2.0% of Selway Asset Management’s investment portfolio, making the stock its 16th biggest position. Selway Asset Management’s holdings in Celgene Corporation were worth $3,503,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its holdings in Celgene Corporation by 4.0% during the first quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after purchasing an additional 71,729 shares during the period. Lincoln Capital Corp increased its position in Celgene Corporation by 0.6% in the second quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock worth $3,971,000 after buying an additional 185 shares in the last quarter. Swiss National Bank increased its position 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 worth $341,796,000 after buying an additional 588,000 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Celgene Corporation by 9.2% in the second quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock worth $83,344,000 after buying an additional 54,210 shares during the period. Finally, Boston Partners raised its stake in shares of Celgene Corporation by 0.3% in the first quarter. Boston Partners now owns 197,861 shares of the biopharmaceutical company’s stock worth $24,620,000 after buying an additional 541 shares during the period. Institutional investors own 79.36% of the company’s stock.
A number of research analysts have recently weighed in on CELG shares. 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 research report on Friday, June 16th. They noted that the move was a valuation call. William Blair reissued an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. Cantor Fitzgerald reissued a “buy” rating on shares of Celgene Corporation in a report on Monday, August 28th. BTIG Research cut shares of Celgene Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Finally, BidaskClub raised shares of 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 have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $150.54.
Shares of Celgene Corporation (CELG) opened at 146.04 on Tuesday. Celgene Corporation has a one year low of $96.93 and a one year high of $147.17. The stock has a market capitalization of $114.25 billion, a P/E ratio of 45.23 and a beta of 1.89. The stock has a 50 day moving average price of $137.92 and a 200 day moving average price of $129.09.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business’s revenue for the quarter 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 analysts forecast that Celgene Corporation will post $7.32 earnings per share for the current year.
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In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,233 shares of company stock worth $6,268,259. Corporate insiders own 0.95% of the company’s stock.
Celgene Corporation 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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