Celgene Corporation (NASDAQ:CELG) Stake Reduced by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in Celgene Corporation (NASDAQ:CELG) by 1.7% during the first quarter, Holdings Channel reports. The fund owned 9,531,634 shares of the biopharmaceutical company’s stock after selling 161,655 shares during the period. Celgene Corporation makes up approximately 0.6% of Ameriprise Financial Inc.’s investment portfolio, making the stock its 28th largest position. Ameriprise Financial Inc.’s holdings in Celgene Corporation were worth $1,185,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CELG. Roundview Capital LLC increased its position in Celgene Corporation by 0.5% in the fourth quarter. Roundview Capital LLC now owns 21,318 shares of the biopharmaceutical company’s stock valued at $2,468,000 after buying an additional 100 shares during the last quarter. Fred Alger Management Inc. increased its position in Celgene Corporation by 37.6% in the fourth quarter. Fred Alger Management Inc. now owns 2,522,465 shares of the biopharmaceutical company’s stock valued at $291,975,000 after buying an additional 689,311 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in Celgene Corporation by 10.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 44,100 shares of the biopharmaceutical company’s stock valued at $5,105,000 after buying an additional 4,340 shares during the last quarter. Intellectus Partners LLC acquired a new position in Celgene Corporation during the fourth quarter valued at $2,119,000. Finally, Moloney Securities Asset Management LLC acquired a new position in Celgene Corporation during the fourth quarter valued at $585,000. Institutional investors and hedge funds own 78.16% of the company’s stock.

Celgene Corporation (NASDAQ CELG) opened at 137.74 on Friday. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $138.17. The company has a market cap of $107.55 billion, a P/E ratio of 51.72 and a beta of 1.89. The stock’s 50 day moving average price is $127.82 and its 200-day moving average price is $122.28.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.21. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.04 billion. Celgene Corporation had a return on equity of 70.94% and a net margin of 18.32%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 EPS. On average, equities analysts predict that Celgene Corporation will post $7.28 earnings per share for the current fiscal year.

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Several research analysts have weighed in on CELG shares. Cann restated a “buy” rating and issued a $148.00 price target on shares of Celgene Corporation in a research note on Tuesday, April 4th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $148.00 price target on shares of Celgene Corporation in a research note on Wednesday, April 5th. Jefferies Group LLC restated a “buy” rating and issued a $154.00 price target on shares of Celgene Corporation in a research note on Tuesday, April 11th. Robert W. Baird restated an “outperform” rating and issued a $162.00 price target on shares of Celgene Corporation in a research note on Wednesday, April 19th. Finally, Barclays PLC restated an “equal weight” rating and issued a $125.00 price target (up from $120.00) on shares of Celgene Corporation in a research note on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the stock. Celgene Corporation has an average rating of “Buy” and a consensus target price of $141.92.

In related news, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $124.00, for a total value of $1,147,000.00. Following the sale, the director now owns 32,169 shares in the company, valued at approximately $3,988,956. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The disclosure for this sale can be found here. Insiders sold a total of 237,005 shares of company stock worth $31,515,142 in the last quarter. Company insiders own 0.95% of the company’s stock.

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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