United Bank Acquires 1,267 Shares of Celgene Corporation (NASDAQ:CELG)

United Bank raised its position in Celgene Corporation (NASDAQ:CELG) by 35.9% during the first quarter, Holdings Channel reports. The firm owned 4,793 shares of the biopharmaceutical company’s stock after buying an additional 1,267 shares during the period. United Bank’s holdings in Celgene Corporation were worth $596,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Swiss National Bank raised its position in shares of 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 during the period. Edge Wealth Management LLC raised its position in shares of Celgene Corporation by 10.5% in the first quarter. Edge Wealth Management LLC now owns 15,920 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,518 shares during the period. Catawba Capital Management VA raised its position in shares of Celgene Corporation by 12.0% in the first quarter. Catawba Capital Management VA now owns 2,425 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 260 shares during the period. Train Babcock Advisors LLC acquired a new position in shares of Celgene Corporation during the first quarter worth approximately $205,000. Finally, Boston Partners raised its position 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 78.39% of the company’s stock.

Celgene Corporation (NASDAQ CELG) opened at 137.75 on Thursday. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $138.93. The firm has a 50-day moving average of $130.10 and a 200-day moving average of $122.81. The stock has a market capitalization of $107.56 billion, a PE ratio of 51.73 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.21. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.04 billion. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. Celgene Corporation’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. Equities analysts expect that Celgene Corporation will post $7.28 EPS for the current fiscal year.

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A number of equities analysts have recently commented on CELG shares. BTIG Research reiterated a “buy” rating and set a $138.00 price target on shares of Celgene Corporation in a report on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and set a $160.00 price target on shares of Celgene Corporation in a report on Tuesday, July 11th. Zacks Investment Research lowered shares of Celgene Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Cann reiterated a “buy” rating and set a $148.00 price target on shares of Celgene Corporation in a report on Tuesday, April 4th. Finally, Argus lowered shares of Celgene Corporation from a “buy” rating to a “hold” rating and boosted their target price for the company from $123.91 to $124.46 in a report on Friday, May 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Celgene Corporation presently has an average rating of “Buy” and a consensus target price of $141.92.

In other Celgene Corporation news, insider Robert J. Hugin sold 175,970 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the completion of the sale, the insider now directly owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the sale, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,005 shares of company stock valued at $31,515,142. 0.95% of the stock is owned by company insiders.

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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