Celgene Corporation (CELG) Position Raised by Chase Investment Counsel Corp

Chase Investment Counsel Corp boosted its position in Celgene Corporation (NASDAQ:CELG) by 27.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,946 shares of the biopharmaceutical company’s stock after buying an additional 9,944 shares during the period. Celgene Corporation comprises approximately 2.7% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 10th largest position. Chase Investment Counsel Corp’s holdings in Celgene Corporation were worth $5,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Edge Wealth Management LLC raised its position in Celgene Corporation by 10.5% in the first quarter. Edge Wealth Management LLC now owns 15,920 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,518 shares in the last quarter. Catawba Capital Management VA raised its position in Celgene Corporation by 12.0% in the first quarter. Catawba Capital Management VA now owns 2,425 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 260 shares in the last quarter. Personal Capital Advisors Corp raised its position in Celgene Corporation by 11.3% in the first quarter. Personal Capital Advisors Corp now owns 233,811 shares of the biopharmaceutical company’s stock worth $29,014,000 after buying an additional 23,686 shares in the last quarter. Hampstead Capital LLP purchased a new position in Celgene Corporation during the fourth quarter worth $4,630,000. Finally, CENTRAL TRUST Co raised its position in Celgene Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 101,225 shares of the biopharmaceutical company’s stock worth $12,595,000 after buying an additional 1,071 shares in the last quarter. 78.26% of the stock is owned by hedge funds and other institutional investors.

Shares of Celgene Corporation (NASDAQ CELG) opened at 130.85 on Wednesday. The stock’s 50 day moving average is $119.20 and its 200 day moving average is $119.73. Celgene Corporation has a 1-year low of $94.42 and a 1-year high of $133.85. The company has a market capitalization of $102.17 billion, a PE ratio of 49.14 and a beta of 1.82.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.47 by $0.21. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. On average, equities research analysts anticipate that Celgene Corporation will post $7.29 EPS for the current fiscal year.

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A number of research analysts have weighed in on CELG shares. Zacks Investment Research lowered shares of Celgene Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, March 9th. BTIG Research reissued a “buy” rating and set a $138.00 target price on shares of Celgene Corporation in a research report on Wednesday, May 24th. Leerink Swann reissued a “market perform” rating on shares of Celgene Corporation in a research report on Monday, March 20th. Cann reissued an “outperform” rating and set a $148.00 target price on shares of Celgene Corporation in a research report on Thursday, March 2nd. Finally, Argus lowered shares of Celgene Corporation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $123.91 to $124.46 in a research report on Friday, May 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $139.49.

In other news, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the transaction, the insider now directly owns 4,004 shares in the company, valued at approximately $481,200.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gilla Kaplan sold 14,033 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $123.83, for a total transaction of $1,737,706.39. Following the completion of the transaction, the director now owns 73,109 shares of the company’s stock, valued at $9,053,087.47. The disclosure for this sale can be found here. Insiders sold a total of 251,038 shares of company stock valued at $33,252,848 over the last 90 days. Corporate insiders own 0.95% of the company’s stock.

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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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