Riggs Asset Managment Co. Inc. reduced its stake in shares of Celgene Corporation (NASDAQ:CELG) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,735 shares of the biopharmaceutical company’s stock after selling 174 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Celgene Corporation were worth $2,303,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of CELG. Guggenheim Capital LLC boosted its position in shares of Celgene Corporation by 3.6% in the fourth quarter. Guggenheim Capital LLC now owns 1,097,391 shares of the biopharmaceutical company’s stock valued at $127,022,000 after buying an additional 37,967 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of Celgene Corporation during the fourth quarter valued at about $3,010,000. Banco Santander S.A. bought a new position in shares of Celgene Corporation during the fourth quarter valued at about $1,730,000. Focused Wealth Management Inc boosted its position in shares of Celgene Corporation by 10.7% in the fourth quarter. Focused Wealth Management Inc now owns 7,264 shares of the biopharmaceutical company’s stock valued at $841,000 after buying an additional 703 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Celgene Corporation by 53.7% in the fourth quarter. Ancora Advisors LLC now owns 4,631 shares of the biopharmaceutical company’s stock valued at $536,000 after buying an additional 1,618 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.
Shares of Celgene Corporation (NASDAQ CELG) traded up 0.05% on Friday, hitting $127.65. 4,270,548 shares of the stock traded hands. The stock has a market cap of $99.87 billion, a price-to-earnings ratio of 39.53 and a beta of 1.89. The company’s 50 day moving average is $133.85 and its 200 day moving average is $124.82. Celgene Corporation has a one year low of $96.93 and a one year high of $139.00.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts forecast that Celgene Corporation will post $7.32 EPS for the current year.
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Several analysts recently commented on the stock. Mizuho set a $134.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Wednesday, July 26th. Cantor Fitzgerald set a $160.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. Robert W. Baird reiterated an “outperform” rating and issued a $162.00 price target on shares of Celgene Corporation in a research report on Friday, July 21st. Jefferies Group LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Celgene Corporation in a research report on Monday, July 31st. Finally, Cann reiterated a “buy” rating and issued a $175.00 price target on shares of Celgene Corporation in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Celgene Corporation presently has a consensus rating of “Buy” and an average price target of $147.00.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the transaction, the director now directly owns 76,301 shares in the company, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,761 shares of company stock worth $33,792,445. Company insiders own 0.95% 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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