Today: Today, Celgene Corp. (CELG) Stake Decreased by Spinnaker Trust

Today, Celgene Corp. (CELG) Stake Decreased by Spinnaker Trust

Spinnaker Trust decreased its position in Celgene Corp. (NASDAQ:CELG) by 0.0% during the third quarter, Holdings Channel reports. The firm owned 10,996 shares of the biopharmaceutical company’s stock after selling 1 shares during the period. Spinnaker Trust’s holdings in Celgene Corp. were worth $1,101,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CELG. First Financial Corp IN increased its stake in Celgene Corp. by 30.9% in the third quarter. First Financial Corp IN now owns 967 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 228 shares during the last quarter. Jolley Asset Management LLC increased its stake in Celgene Corp. by 58.8% in the second quarter. Jolley Asset Management LLC now owns 1,215 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 450 shares during the last quarter. Smithfield Trust Co. increased its stake in Celgene Corp. by 12.5% in the second quarter. Smithfield Trust Co. now owns 1,282 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 142 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Celgene Corp. by 21.8% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 240 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Celgene Corp. by 202.8% in the third quarter. Cornerstone Advisors Inc. now owns 1,320 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 884 shares during the last quarter. Institutional investors own 77.85% of the company’s stock.

Celgene Corp. (NASDAQ:CELG) traded up 0.17% on Friday, reaching $121.06. 1,792,549 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $107.85 and its 200 day moving average is $106.38. Celgene Corp. has a 52 week low of $93.05 and a 52 week high of $127.00. The company has a market cap of $93.85 billion, a price-to-earnings ratio of 45.98 and a beta of 1.71.

Celgene Corp. (NASDAQ:CELG) last posted its earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.10. Celgene Corp. had a return on equity of 70.48% and a net margin of 19.71%. The company earned $2.98 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that Celgene Corp. will post $5.92 earnings per share for the current year.

Several research analysts have recently weighed in on CELG shares. Robert W. Baird reissued an “outperform” rating and issued a $162.00 target price on shares of Celgene Corp. in a research report on Tuesday, September 13th. BMO Capital Markets reissued an “outperform” rating and issued a $141.00 target price on shares of Celgene Corp. in a research report on Tuesday, August 23rd. Vetr downgraded shares of Celgene Corp. from a “strong-buy” rating to a “buy” rating and set a $115.50 target price on the stock. in a research report on Monday, October 31st. Citigroup Inc. lifted their target price on shares of Celgene Corp. from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, Cowen and Company reissued an “outperform” rating and issued a $150.00 target price on shares of Celgene Corp. in a research report on Thursday, August 25th. Four equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $136.30.

In related news, major shareholder Corp /De/ Celgene purchased 800,150 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average price of $14.00 per share, with a total value of $11,202,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Friedman sold 18,600 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $116.10, for a total value of $2,159,460.00. Following the completion of the transaction, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $2,159,460. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Celgene Corp. Company Profile

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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