Today: Celgene Corp. (CELG) Stake Decreased by Albion Financial Group UT

Today: Celgene Corp. (CELG) Stake Decreased by Albion Financial Group UT

Albion Financial Group UT cut its position in shares of Celgene Corp. (NASDAQ:CELG) by 55.3% during the third quarter, Holdings Channel reports. The institutional investor owned 69,181 shares of the biopharmaceutical company’s stock after selling 85,671 shares during the period. Celgene Corp. comprises 1.2% of Albion Financial Group UT’s holdings, making the stock its 24th largest position. Albion Financial Group UT’s holdings in Celgene Corp. were worth $7,231,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CELG. First Financial Corp IN boosted 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 period. Jolley Asset Management LLC boosted 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 period. Smithfield Trust Co. boosted 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 period. Cornerstone Advisors Inc. boosted 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 period. Finally, Integrated Investment Consultants LLC boosted 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 period. Institutional investors own 76.43% of the company’s stock.

Shares of Celgene Corp. (NASDAQ:CELG) traded down 0.63% during mid-day trading on Monday, reaching $120.30. 3,297,789 shares of the company were exchanged. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $127.00. The firm’s 50-day moving average is $108.41 and its 200-day moving average is $106.51. The company has a market capitalization of $93.26 billion, a price-to-earnings ratio of 45.69 and a beta of 1.71.

Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, beating the 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 firm earned $2.98 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned $1.23 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts forecast that Celgene Corp. will post $5.92 earnings per share for the current fiscal year.

CELG has been the topic of several recent research reports. Vetr upgraded Celgene Corp. from a “hold” rating to a “buy” rating and set a $129.47 price target on the stock in a research report on Monday, November 21st. Cann initiated coverage on Celgene Corp. in a research report on Monday. They issued an “outperform” rating and a $141.00 price target on the stock. Zacks Investment Research upgraded Celgene Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Friday, August 5th. BTIG Research upgraded Celgene Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.14 to $138.00 in a research report on Wednesday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $138.00 price target on shares of Celgene Corp. in a research report on Tuesday, August 2nd. Five investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $136.34.

In other news, Director Gilla Kaplan sold 9,710 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $106.44, for a total transaction of $1,033,532.40. Following the completion of the transaction, the director now directly owns 72,142 shares in the company, valued at $7,678,794.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. Friedman sold 18,600 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 18,600 shares of the company’s stock, valued at $2,159,460. The disclosure for this sale can be found here. 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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