Investors Buy Celgene Corporation (CELG) on Weakness

Traders bought shares of Celgene Corporation (NASDAQ:CELG) on weakness during trading on Wednesday. $141.94 million flowed into the stock on the tick-up and $108.92 million flowed out of the stock on the tick-down, for a money net flow of $33.02 million into the stock. Of all stocks tracked, Celgene Corporation had the 20th highest net in-flow for the day. Celgene Corporation traded down ($0.13) for the day and closed at $139.56

A number of equities research analysts have weighed in on CELG shares. BidaskClub raised Celgene Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Oppenheimer Holdings, Inc. set a $148.00 target price on Celgene Corporation and gave the company a “buy” rating in a report on Wednesday, June 14th. Leerink Swann raised Celgene Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. Finally, BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and raised their target price for the company from $96.93 to $131.70 in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $150.60.

The firm has a market capitalization of $109.18 billion, a PE ratio of 43.22 and a beta of 1.88. The firm has a 50-day moving average of $139.99 and a 200-day moving average of $129.85.

Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. On average, equities research analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.

In other news, Director Ernest Mario sold 18,506 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now directly owns 69,424 shares in the company, valued at $9,061,220.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the 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 sale, the insider now owns 3,925 shares of the company’s stock, valued at $564,768.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,233 shares of company stock valued at $6,268,259. 0.95% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Waldron LP raised its stake in Celgene Corporation by 48.9% in the first quarter. Waldron LP now owns 5,207 shares of the biopharmaceutical company’s stock worth $640,000 after buying an additional 1,709 shares in the last quarter. Beaumont Financial Partners LLC raised its stake in Celgene Corporation by 7.2% in the first quarter. Beaumont Financial Partners LLC now owns 12,530 shares of the biopharmaceutical company’s stock worth $1,559,000 after buying an additional 840 shares in the last quarter. Swedbank raised its stake in Celgene Corporation by 4.5% in the first quarter. Swedbank now owns 2,595,776 shares of the biopharmaceutical company’s stock worth $322,992,000 after buying an additional 111,818 shares in the last quarter. North Star Investment Management Corp. raised its stake in Celgene Corporation by 6.6% in the first quarter. North Star Investment Management Corp. now owns 27,230 shares of the biopharmaceutical company’s stock worth $3,388,000 after buying an additional 1,680 shares in the last quarter. Finally, Macguire Cheswick & Tuttle Investment Counsel LLC raised its stake in Celgene Corporation by 2.6% in the first quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 92,374 shares of the biopharmaceutical company’s stock worth $11,494,000 after buying an additional 2,370 shares in the last quarter. Institutional investors own 79.36% of the company’s stock.

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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.

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