Traders Buy Shares of Celgene Corporation (CELG) on Weakness

Traders bought shares of Celgene Corporation (NASDAQ:CELG) on weakness during trading on Monday. $110.40 million flowed into the stock on the tick-up and $94.23 million flowed out of the stock on the tick-down, for a money net flow of $16.17 million into the stock. Of all companies tracked, Celgene Corporation had the 20th highest net in-flow for the day. Celgene Corporation traded down ($0.95) for the day and closed at $103.15

Several research analysts have weighed in on the company. Morgan Stanley lowered Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $173.00 price target on shares of Celgene Corporation in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a “buy” rating and set a $162.00 price target on shares of Celgene Corporation in a research report on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $162.00 price target on shares of Celgene Corporation in a research report on Tuesday, September 26th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Celgene Corporation in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $139.87.

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 capitalization of $81,210.00, a price-to-earnings ratio of 16.27, a PEG ratio of 0.80 and a beta of 1.79.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The business 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. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities analysts predict that Celgene Corporation will post 6.67 EPS for the current year.

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 stock was 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 of the company’s stock, valued at approximately $1,286,027.50. The sale 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 value of $248,498.03. Following the completion of the transaction, the insider now directly 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 ninety days, insiders sold 20,227 shares of company stock valued at $2,843,956. Insiders own 0.95% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Arcadia Investment Management Corp MI increased its holdings in Celgene Corporation by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Celgene Corporation by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 43 shares during the period. Robecosam AG acquired a new stake in shares of Celgene Corporation in the third quarter valued at about $114,000. Capital Bank & Trust Co increased its stake in shares of Celgene Corporation by 166.8% in the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the period. Finally, Guidant Wealth Advisors acquired a new stake in shares of Celgene Corporation in the third quarter valued at about $119,000. 79.48% of the stock is owned by institutional investors and hedge funds.

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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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