Celgene Corporation (CELG) Holdings Boosted by Beach Investment Management LLC.

Beach Investment Management LLC. raised its holdings in Celgene Corporation (NASDAQ:CELG) by 1,935.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,188 shares of the biopharmaceutical company’s stock after purchasing an additional 119,988 shares during the period. Celgene Corporation comprises approximately 1.7% of Beach Investment Management LLC.’s holdings, making the stock its 21st largest holding. Beach Investment Management LLC.’s holdings in Celgene Corporation were worth $16,388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC raised its position in shares of Celgene Corporation by 0.5% during the 1st quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 13 shares in the last quarter. South Texas Money Management Ltd. raised its position in shares of Celgene Corporation by 0.6% during the 1st quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock valued at $305,000 after acquiring an additional 15 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Celgene Corporation by 0.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock valued at $253,000 after acquiring an additional 18 shares in the last quarter. Keel Point LLC raised its position in shares of Celgene Corporation by 0.9% during the 1st quarter. Keel Point LLC now owns 3,103 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 28 shares in the last quarter. Finally, First Heartland Consultants Inc. raised its position in shares of Celgene Corporation by 0.6% during the 2nd quarter. First Heartland Consultants Inc. now owns 6,189 shares of the biopharmaceutical company’s stock valued at $804,000 after acquiring an additional 35 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors.

Shares of Celgene Corporation (CELG) opened at $104.10 on Friday. Celgene Corporation has a fifty-two week low of $94.55 and a fifty-two week high of $147.17. The company has a market capitalization of $81,959.70, a price-to-earnings ratio of 16.27, a PEG ratio of 0.80 and a beta of 1.79. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.

Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.87 by $0.04. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the business posted $1.58 earnings per share. Celgene Corporation’s revenue was up 10.2% compared to the same quarter last year. sell-side analysts anticipate that Celgene Corporation will post 6.67 EPS for the current year.

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In other news, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at $564,768.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total value of $1,286,027.50. Following the sale, the director now directly owns 9,250 shares of the company’s stock, valued at $1,286,027.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,227 shares of company stock valued at $2,843,956. 0.95% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on CELG shares. Morgan Stanley lowered Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research report on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $173.00 target price on shares of Celgene Corporation in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $162.00 target price on shares of Celgene Corporation in a research report on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $162.00 target price on shares of Celgene Corporation in a research report on Tuesday, September 26th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Celgene Corporation in a research report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $139.87.

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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