Insider Buying: Celgene (CELG) CEO Acquires $99,780.80 in Stock

Celgene (NASDAQ:CELG) CEO Mark J. Alles acquired 1,208 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The shares were bought at an average cost of $82.60 per share, with a total value of $99,780.80. Following the completion of the purchase, the chief executive officer now owns 187,316 shares of the company’s stock, valued at $15,472,301.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CELG opened at $78.37 on Friday. Celgene has a 52-week low of $78.35 and a 52-week high of $147.17. The stock has a market cap of $56.80 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.52 and a beta of 1.49. The company has a debt-to-equity ratio of 3.92, a quick ratio of 2.36 and a current ratio of 2.53.

Celgene (NASDAQ:CELG) last released its earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.09. Celgene had a return on equity of 72.92% and a net margin of 20.73%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. Celgene’s revenue was up 19.4% on a year-over-year basis. equities research analysts predict that Celgene will post 7.63 EPS for the current year.

Celgene announced that its board has initiated a stock repurchase program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

A number of equities research analysts recently commented on the company. Cantor Fitzgerald set a $112.00 price objective on Celgene and gave the stock a “hold” rating in a research note on Monday, April 2nd. BTIG Research reissued a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. Barclays set a $107.00 target price on Celgene and gave the company a “buy” rating in a research note on Sunday, May 6th. Zacks Investment Research cut Celgene from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Finally, ValuEngine cut Celgene from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Celgene currently has an average rating of “Buy” and a consensus price target of $123.98.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new stake in Celgene during the first quarter worth about $477,000. Wesbanco Bank Inc. raised its holdings in Celgene by 137.0% during the first quarter. Wesbanco Bank Inc. now owns 96,560 shares of the biopharmaceutical company’s stock worth $8,614,000 after acquiring an additional 55,809 shares in the last quarter. CIBC World Markets Inc. raised its holdings in Celgene by 16.2% during the first quarter. CIBC World Markets Inc. now owns 160,349 shares of the biopharmaceutical company’s stock worth $14,305,000 after acquiring an additional 22,406 shares in the last quarter. Financial Partners Capital Management LLC raised its holdings in Celgene by 7.0% during the first quarter. Financial Partners Capital Management LLC now owns 29,045 shares of the biopharmaceutical company’s stock worth $2,591,000 after acquiring an additional 1,900 shares in the last quarter. Finally, EagleClaw Capital Managment LLC raised its stake in Celgene by 11.3% in the first quarter. EagleClaw Capital Managment LLC now owns 13,260 shares of the biopharmaceutical company’s stock valued at $1,183,000 after buying an additional 1,350 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

Insider Buying and Selling by Quarter for Celgene (NASDAQ:CELG)

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