California Public Employees Retirement System Decreases Position in Celgene Corp. (CELG)

California Public Employees Retirement System Decreases Position in Celgene Corp. (CELG)

California Public Employees Retirement System lowered its position in shares of Celgene Corp. (NASDAQ:CELG) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,860,490 shares of the biopharmaceutical company’s stock after selling 95,900 shares during the period. California Public Employees Retirement System’s holdings in Celgene Corp. were worth $194,477,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Park National Corp OH increased its position in Celgene Corp. by 0.4% in the third quarter. Park National Corp OH now owns 3,158 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 12 shares in the last quarter. Jolley Asset Management LLC increased its position in Celgene Corp. by 2.1% in the third quarter. Jolley Asset Management LLC now owns 1,240 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 25 shares in the last quarter. Integrated Wealth Management increased its position in Celgene Corp. by 1.5% in the third quarter. Integrated Wealth Management now owns 1,689 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 25 shares in the last quarter. Gradient Investments LLC increased its position in Celgene Corp. by 0.9% in the third quarter. Gradient Investments LLC now owns 3,123 shares of the biopharmaceutical company’s stock worth $326,000 after buying an additional 29 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its position in Celgene Corp. by 2.2% in the third quarter. Integrated Investment Consultants LLC now owns 1,369 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 30 shares in the last quarter. 76.21% of the stock is owned by institutional investors and hedge funds.

Celgene Corp. (NASDAQ:CELG) opened at 118.93 on Tuesday. The firm has a market cap of $92.19 billion, a price-to-earnings ratio of 45.17 and a beta of 1.75. The company’s 50-day moving average price is $117.36 and its 200 day moving average price is $108.38. Celgene Corp. has a 1-year low of $93.05 and a 1-year high of $127.00.

Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ 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 quarter in the previous year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts expect that Celgene Corp. will post $5.92 earnings per share for the current fiscal year.

CELG has been the subject of a number of research reports. Canaccord Genuity set a $156.00 target price on Celgene Corp. and gave the company a “buy” rating in a research report on Sunday, September 18th. Bank of America Corp. reiterated a “buy” rating and set a $128.00 target price on shares of Celgene Corp. in a research report on Friday, September 16th. Piper Jaffray Cos. restated a “buy” rating on shares of Celgene Corp. in a research report on Monday, September 12th. Argus restated a “buy” rating and issued a $155.00 price target on shares of Celgene Corp. in a research report on Wednesday, September 7th. Finally, Jefferies Group restated a “buy” rating and issued a $137.00 price target on shares of Celgene Corp. in a research report on Tuesday, September 13th. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.23.

In other Celgene Corp. news, Director Michael A. Friedman sold 56,116 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $103.66, for a total transaction of $5,816,984.56. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at $5,183,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael A. Friedman sold 18,600 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $2,159,460. The disclosure for this sale can be found here. Company 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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