New England Research & Management Inc. Has $1.45 Million Stake in Celgene Corporation (CELG)

New England Research & Management Inc. grew its stake in Celgene Corporation (NASDAQ:CELG) by 12.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,184 shares of the biopharmaceutical company’s stock after purchasing an additional 1,234 shares during the period. Celgene Corporation makes up about 1.1% of New England Research & Management Inc.’s portfolio, making the stock its 24th biggest position. New England Research & Management Inc.’s holdings in Celgene Corporation were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CELG. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Celgene Corporation in the 1st quarter valued at approximately $118,000. Oakworth Capital Inc. raised its holdings 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 period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 380 shares during the period. Independent Portfolio Consultants Inc. raised its holdings in shares of Celgene Corporation by 209.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,541 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 1,043 shares during the period. Finally, Schmidt P J Investment Management Inc. purchased a new stake in shares of Celgene Corporation in the first quarter worth approximately $201,000. 79.33% of the stock is owned by institutional investors and hedge funds.

Shares of Celgene Corporation (NASDAQ CELG) traded up 0.47% during mid-day trading on Wednesday, reaching $144.15. The company’s stock had a trading volume of 1,515,324 shares. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $144.30. The company has a market capitalization of $112.78 billion, a price-to-earnings ratio of 44.64 and a beta of 1.89. The firm’s 50 day moving average price is $135.45 and its 200-day moving average price is $127.81.

Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. On average, analysts predict that Celgene Corporation will post $7.32 EPS for the current year.

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Several research analysts have commented on the company. Bank of America Corporation restated a “buy” rating on shares of Celgene Corporation in a report on Wednesday, September 13th. Jefferies Group LLC restated a “buy” rating and set a $160.00 price objective on shares of Celgene Corporation in a report on Friday, September 15th. Cowen and Company restated a “buy” rating and set a $150.00 price objective on shares of Celgene Corporation in a report on Tuesday, September 12th. Royal Bank Of Canada assumed coverage on Celgene Corporation in a report on Thursday, September 14th. They set a “top pick” rating and a $176.00 price objective on the stock. Finally, Mizuho raised their price objective on Celgene Corporation from $134.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $149.34.

In related news, Director Michael A. Friedman sold 10,000 shares of Celgene Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $132.50, for a total transaction of $1,325,000.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $662,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert J. Hugin sold 175,970 shares of Celgene Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the sale, the insider now directly owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The disclosure for this sale can be found here. Insiders have sold a total of 248,976 shares of company stock worth $33,420,421 in the last ninety days. 0.95% of the stock is currently owned by 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.

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

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