Chemical Bank Increases Position in Celgene Corporation (CELG)

Chemical Bank increased its holdings in shares of Celgene Corporation (NASDAQ:CELG) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,220 shares of the biopharmaceutical company’s stock after purchasing an additional 2,433 shares during the period. Chemical Bank’s holdings in Celgene Corporation were worth $6,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Capital Counsel LLC NY boosted its position in Celgene Corporation by 0.4% during the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 6 shares during the period. Sowell Financial Services LLC boosted its position in Celgene Corporation by 0.5% during the 1st quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 13 shares during the period. South Texas Money Management Ltd. boosted its position in Celgene Corporation by 0.6% during the 1st quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 15 shares during the period. Flagship Harbor Advisors LLC boosted its position in Celgene Corporation by 0.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock worth $253,000 after purchasing an additional 18 shares during the period. Finally, Savant Capital LLC boosted its position in Celgene Corporation by 0.9% during the 2nd quarter. Savant Capital LLC now owns 2,350 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 20 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

CELG has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $175.00 price objective (up previously from $148.00) on shares of Celgene Corporation in a report on Monday, July 31st. Cantor Fitzgerald set a $160.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a report on Friday, October 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $160.00 price objective (up previously from $152.00) on shares of Celgene Corporation in a report on Friday, July 28th. Finally, Leerink Swann reiterated a “buy” rating and issued a $156.00 price objective on shares of Celgene Corporation in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Celgene Corporation has an average rating of “Buy” and a consensus target price of $139.87.

In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total value of $1,286,027.50. Following the completion of the transaction, the director now owns 9,250 shares in the company, valued at approximately $1,286,027.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the company’s 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 completion of the transaction, the insider now 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 90 days, insiders sold 20,227 shares of company stock valued at $2,843,956. 0.95% of the stock is owned by insiders.

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Celgene Corporation (NASDAQ CELG) opened at $104.10 on Friday. Celgene Corporation has a 1 year low of $94.55 and a 1 year high of $147.17. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. The company has a market cap of $81,959.70, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.80 and a beta of 1.79.

Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Celgene Corporation’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts forecast that Celgene Corporation will post 6.67 earnings per share for the current year.

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.

Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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