The Celgene Corporation (NASDAQ:CELG) Stake Cut by Blue Granite Capital LLC

The Celgene Corporation (NASDAQ:CELG) Stake Cut by Blue Granite Capital LLC

Several other institutional investors also recently modified their holdings of CELG. Motco raised its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Celgene Corporation during the first quarter worth approximately $118,000. Carroll Financial Associates Inc. increased its stake in shares of Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 400 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the last quarter. Finally, Acropolis Investment Management LLC purchased a new stake in shares of Celgene Corporation during the second quarter worth about $144,000. 78.39% of the stock is currently owned by institutional investors.

Blue Granite Capital LLC reduced its stake in shares of Celgene Corporation (NASDAQ:CELG) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Celgene Corporation makes up about 1.7% of Blue Granite Capital LLC’s portfolio, making the stock its 29th largest position. Blue Granite Capital LLC’s holdings in Celgene Corporation were worth $2,597,000 at the end of the most recent reporting period.

Shares of Celgene Corporation (NASDAQ:CELG) traded down 0.27% during midday trading on Wednesday, reaching $134.82. The company had a trading volume of 1,769,325 shares. The company has a 50 day moving average of $132.00 and a 200 day moving average of $123.32. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00. The firm has a market capitalization of $105.48 billion, a price-to-earnings ratio of 41.75 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business earned $1.44 EPS. Celgene Corporation’s revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that Celgene Corporation will post $7.32 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Jefferies Group LLC set a $154.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a research note on Saturday, May 13th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $175.00 price target (up from $148.00) on shares of Celgene Corporation in a research note on Monday. BMO Capital Markets restated an “outperform” rating and issued a $160.00 price target (up from $152.00) on shares of Celgene Corporation in a research note on Friday, July 28th. Stifel Nicolaus initiated coverage on shares of Celgene Corporation in a report on Friday, July 28th. They issued a “buy” rating and a $155.00 price objective for the company. Finally, Cowen and Company reiterated an “outperform” rating and issued a $150.00 price objective on shares of Celgene Corporation in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $147.06.

In other Celgene Corporation news, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the sale, the insider now directly owns 4,004 shares in the company, valued at approximately $481,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James J. Loughlin sold 18,500 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $133.57, for a total value of $2,471,045.00. Following the completion of the sale, the director now owns 32,877 shares of the company’s stock, valued at $4,391,380.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 227,755 shares of company stock valued at $30,368,142. 0.95% of the stock is owned by company insiders.

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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