Traders Sell Celgene (CELG) on Strength (CELG)

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Traders sold shares of Celgene Co. (NASDAQ:CELG) on strength during trading on Tuesday. $63.79 million flowed into the stock on the tick-up and $113.01 million flowed out of the stock on the tick-down, for a money net flow of $49.22 million out of the stock. Of all companies tracked, Celgene had the 13th highest net out-flow for the day. Celgene traded up $0.32 for the day and closed at $91.20

A number of research firms have recently commented on CELG. Standpoint Research raised Celgene from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Zacks Investment Research raised Celgene from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, May 1st. BidaskClub raised Celgene from a “strong sell” rating to a “sell” rating in a report on Friday, May 25th. Sanford C. Bernstein raised Celgene from a “market perform” rating to an “outperform” rating and set a $102.00 price target for the company in a report on Wednesday, May 23rd. Finally, Barclays set a $107.00 price target on Celgene and gave the stock a “buy” rating in a report on Sunday, May 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Celgene presently has an average rating of “Buy” and a consensus target price of $121.85.

The company has a quick ratio of 1.40, a current ratio of 1.52 and a debt-to-equity ratio of 5.76. The company has a market cap of $63.56 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.56 and a beta of 1.32.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. equities analysts anticipate that Celgene Co. will post 7.64 earnings per share for the current fiscal year.

Celgene announced that its board has authorized a share buyback plan on Thursday, May 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, Director John H. Weiland purchased 5,575 shares of the stock in a transaction on Tuesday, August 7th. The shares were acquired at an average price of $89.73 per share, for a total transaction of $500,244.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael D. Casey sold 13,000 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $78.77, for a total value of $1,024,010.00. Following the sale, the director now owns 27,750 shares in the company, valued at approximately $2,185,867.50. The disclosure for this sale can be found here. Insiders have sold 42,750 shares of company stock worth $3,533,390 in the last 90 days. Company insiders own 0.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. Ayalon Holdings Ltd. purchased a new position in shares of Celgene in the second quarter worth about $100,000. Atlantic Trust LLC purchased a new position in shares of Celgene in the second quarter worth about $101,000. Acropolis Investment Management LLC purchased a new position in shares of Celgene in the second quarter worth about $112,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Celgene by 2,688.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 9,921 shares during the period. Finally, Archford Capital Strategies LLC purchased a new position in shares of Celgene in the first quarter worth about $124,000. Institutional investors and hedge funds own 76.42% of the company’s stock.

Celgene Company Profile (NASDAQ:CELG)

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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