Investors Buy Shares of Celgene Corporation (CELG) on Weakness

Investors purchased shares of Celgene Corporation (NASDAQ:CELG) on weakness during trading on Thursday. $1,673.93 million flowed into the stock on the tick-up and $1,525.80 million flowed out of the stock on the tick-down, for a money net flow of $148.13 million into the stock. Of all companies tracked, Celgene Corporation had the 3rd highest net in-flow for the day. Celgene Corporation traded down ($19.57) for the day and closed at $99.99

CELG has been the subject of several research analyst reports. Morgan Stanley cut shares of Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research note on Thursday, October 5th. BTIG Research reaffirmed a “hold” rating on shares of Celgene Corporation in a research note on Sunday, October 22nd. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $144.39 target price for the company in a research note on Monday, October 23rd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. Finally, BMO Capital Markets raised their target price on shares of Celgene Corporation from $160.00 to $167.00 and gave the company a “positive” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene Corporation has an average rating of “Buy” and a consensus price target of $141.44.

The company’s 50 day moving average is $136.88 and its 200-day moving average is $129.95. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 30.40 and a beta of 1.88.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 68.62%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that Celgene Corporation will post $7.32 earnings per share for the current year.

In other news, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were 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 owns 3,925 shares of the company’s stock, valued at $564,768.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the transaction, the director now directly owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. In the last three months, insiders sold 46,233 shares of company stock valued at $6,268,259. Insiders own 0.95% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. boosted 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 purchasing an additional 43 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Celgene Corporation by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Celgene Corporation in the first quarter valued at approximately $118,000. Guidant Wealth Advisors purchased a new position in shares of Celgene Corporation in the third quarter valued at approximately $119,000. Finally, Motco boosted its stake in shares of Celgene Corporation by 19.3% in the second quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 159 shares during the period. 79.23% 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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