Traders Sell Celgene Corporation (CELG) on Strength (CELG)
Investors sold shares of Celgene Corporation (NASDAQ:CELG) on strength during trading hours on Monday. $138.71 million flowed into the stock on the tick-up and $221.95 million flowed out of the stock on the tick-down, for a money net flow of $83.24 million out of the stock. Of all stocks tracked, Celgene Corporation had the 8th highest net out-flow for the day. Celgene Corporation traded up $1.60 for the day and closed at $101.64
Several analysts have recently weighed in on CELG shares. Leerink Swann restated an “outperform” rating and set a $160.00 price objective (up previously from $150.00) on shares of Celgene Corporation in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $170.00 price target on shares of Celgene Corporation in a research report on Friday, October 20th. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $144.39 price target for the company in a research report on Monday, October 23rd. Cann reiterated a “buy” rating on shares of Celgene Corporation in a research report on Thursday, October 26th. Finally, Morgan Stanley upgraded shares of Celgene Corporation from an “underweight” rating to an “equal weight” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $139.64.
The company has a market capitalization of $80,020.00, a price-to-earnings ratio of 15.63, a PEG ratio of 0.77 and a beta of 1.79. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. equities analysts forecast that Celgene Corporation will post 6.67 earnings per share for the current fiscal year.
In other news, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the transaction, the director now directly owns 85,551 shares in the company, valued at approximately $12,110,599.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at $564,768.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,733 shares of company stock worth $5,259,359. 0.95% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in CELG. Janus Henderson Group PLC lifted its holdings in shares of Celgene Corporation by 4,290.5% during the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after acquiring an additional 8,217,433 shares during the period. BlackRock Inc. increased its position in Celgene Corporation by 5.7% during the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Oaktop Capital Management II L.P. acquired a new stake in Celgene Corporation during the 2nd quarter worth approximately $271,605,000. Arrowstreet Capital Limited Partnership grew its position in Celgene Corporation by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after acquiring an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Celgene Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after acquiring an additional 1,610,056 shares in the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.
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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