Traders Purchase High Volume of Put Options on Celgene (CELG)

Celgene Co. (NASDAQ:CELG) was the target of some unusual options trading activity on Friday. Stock traders bought 6,212 put options on the stock. This represents an increase of 102% compared to the average volume of 3,069 put options.

Shares of Celgene (NASDAQ:CELG) traded down 0.40% on Friday, reaching $116.93. The company had a trading volume of 3,093,067 shares. Celgene has a 1-year low of $94.42 and a 1-year high of $127.64. The company’s 50 day moving average price is $122.61 and its 200-day moving average price is $119.36. The stock has a market capitalization of $91.30 billion, a P/E ratio of 43.91 and a beta of 1.74.

Celgene (NASDAQ:CELG) last announced 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 company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.04 billion. Celgene had a return on equity of 77.95% and a net margin of 17.80%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 earnings per share. Equities analysts predict that Celgene will post $7.28 EPS for the current year.

CELG has been the topic of several analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Celgene in a research note on Saturday, February 18th. Credit Suisse Group AG set a $148.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Saturday, February 18th. Cantor Fitzgerald set a $159.00 target price on shares of Celgene and gave the stock a “buy” rating in a research report on Saturday, February 18th. Canaccord Genuity set a $156.00 target price on shares of Celgene and gave the stock a “buy” rating in a research report on Saturday, February 25th. Finally, Oppenheimer Holdings Inc. set a $148.00 target price on shares of Celgene and gave the stock a “buy” rating in a research report on Saturday, February 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $138.53.

In other news, Director Gilla Kaplan sold 14,033 shares of the firm’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $123.83, for a total value of $1,737,706.39. Following the transaction, the director now owns 73,109 shares of the company’s stock, valued at approximately $9,053,087.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rupert Vessey sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $124.42, for a total transaction of $497,680.00. Following the completion of the transaction, the insider now directly owns 778 shares in the company, valued at approximately $96,798.76. The disclosure for this sale can be found here. Insiders sold 27,283 shares of company stock worth $3,382,386 over the last quarter. Company insiders own 0.97% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Motco increased its position in Celgene by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares in the last quarter. Barnett & Company Inc. increased its position in Celgene by 18.3% in the third quarter. Barnett & Company Inc. now owns 1,130 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 175 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Celgene during the first quarter valued at about $118,000. Carroll Financial Associates Inc. increased its position in Celgene by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares in the last quarter. Finally, FNY Managed Accounts LLC bought a new position in Celgene during the first quarter valued at about $131,000. 77.68% of the stock is currently owned by institutional investors and hedge funds.

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Celgene Company Profile

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.

12 Month Chart for NASDAQ:CELG

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