Insider Selling: Celgene Corporation (CELG) Director Sells $1,161,707.50 in Stock

Celgene Corporation (NASDAQ:CELG) Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $125.59, for a total value of $1,161,707.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Celgene Corporation (CELG) opened at 133.68 on Friday. The firm has a market cap of $104.38 billion, a price-to-earnings ratio of 50.20 and a beta of 1.82. The firm has a 50-day moving average of $119.20 and a 200-day moving average of $119.73. Celgene Corporation has a one year low of $94.42 and a one year high of $135.18. Celgene Corporation also was the target of some unusual options trading activity on Wednesday. Traders purchased 1,270 put options on the company. This represents an increase of 232% compared to the average volume of 382 put options.

Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.21. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.04 billion. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. Celgene Corporation’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business posted $1.32 EPS. Analysts anticipate that Celgene Corporation will post $7.29 EPS for the current year.

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

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CELG has been the subject of a number of research reports. Leerink Swann upgraded shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $94.42 to $150.00 in a research report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $98.00 price target (up from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. Canaccord Genuity set a $156.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Monday, May 22nd. Cann reiterated an “outperform” rating and set a $148.00 price target on shares of Celgene Corporation in a research report on Friday, February 24th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, June 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Celgene Corporation currently has a consensus rating of “Buy” and an average price target of $139.49.

A number of hedge funds have recently bought and sold shares of the company. Headinvest LLC bought a new stake in Celgene Corporation during the fourth quarter valued at about $2,667,000. Norway Savings Bank bought a new stake in Celgene Corporation during the fourth quarter valued at about $505,000. Psagot Investment House Ltd. raised its stake in Celgene Corporation by 101.5% in the fourth quarter. Psagot Investment House Ltd. now owns 48,948 shares of the biopharmaceutical company’s stock valued at $5,666,000 after buying an additional 24,662 shares in the last quarter. Hodges Capital Management Inc. raised its stake in Celgene Corporation by 0.8% in the fourth quarter. Hodges Capital Management Inc. now owns 2,152 shares of the biopharmaceutical company’s stock valued at $249,000 after buying an additional 17 shares in the last quarter. Finally, Harbor Advisors LLC bought a new stake in Celgene Corporation during the fourth quarter valued at about $232,000. Institutional investors own 78.26% 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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