Todays Report: The Carnegie Capital Asset Management LLC Increases Position in Celgene Corp. (CELG)

The Carnegie Capital Asset Management LLC Increases Position in Celgene Corp. (CELG)

Carnegie Capital Asset Management LLC boosted its position in Celgene Corp. (NASDAQ:CELG) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 9,888 shares of the biopharmaceutical company’s stock after buying an additional 575 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Celgene Corp. were worth $1,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Carmignac Gestion boosted its position in shares of Celgene Corp. by 28.1% in the second quarter. Carmignac Gestion now owns 9,708,359 shares of the biopharmaceutical company’s stock worth $957,535,000 after buying an additional 2,127,659 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Celgene Corp. by 29.3% in the first quarter. Wellington Management Group LLP now owns 9,105,975 shares of the biopharmaceutical company’s stock worth $911,417,000 after buying an additional 2,062,585 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Celgene Corp. by 5.3% in the first quarter. Geode Capital Management LLC now owns 6,931,718 shares of the biopharmaceutical company’s stock worth $692,509,000 after buying an additional 348,123 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Celgene Corp. by 9.4% in the second quarter. American Century Companies Inc. now owns 5,679,237 shares of the biopharmaceutical company’s stock worth $560,143,000 after buying an additional 488,176 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Celgene Corp. by 1.4% in the first quarter. Legal & General Group Plc now owns 3,325,160 shares of the biopharmaceutical company’s stock worth $332,817,000 after buying an additional 46,095 shares during the last quarter. Institutional investors own 77.70% of the company’s stock.

Celgene Corp. (NASDAQ:CELG) traded down 0.78% during mid-day trading on Friday, hitting $103.90. The stock had a trading volume of 6,962,527 shares. The firm’s 50-day moving average price is $103.87 and its 200 day moving average price is $105.29. The company has a market cap of $80543.59 billion, a PE ratio of 39.51 and a beta of 1.49. Celgene Corp. has a one year low of $93.05 and a one year high of $127.97.

Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.10. Celgene Corp. had a return on equity of 70.92% and a net margin of 19.71%. The firm earned $2.98 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts anticipate that Celgene Corp. will post $5.86 EPS for the current year.

CELG has been the topic of a number of analyst reports. BTIG Research reiterated a “buy” rating and issued a $138.00 price target on shares of Celgene Corp. in a research note on Sunday, August 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $141.00 price target on shares of Celgene Corp. in a research note on Monday, October 3rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $136.00 target price on shares of Celgene Corp. in a research note on Friday, August 19th. Jefferies Group restated a “buy” rating and set a $134.00 target price on shares of Celgene Corp. in a research note on Monday, October 17th. Finally, RBC Capital Markets restated a “buy” rating on shares of Celgene Corp. in a research note on Tuesday, July 26th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Celgene Corp. currently has an average rating of “Buy” and a consensus target price of $136.29.

In related news, major shareholder Corp /De/ Celgene bought 800,150 shares of the company’s stock in a transaction on Monday, October 24th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $11,202,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael D. Casey sold 43,134 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $114.01, for a total value of $4,917,707.34. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

About Celgene Corp.

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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