Celgene Sees Unusually Large Options Volume (NASDAQ:CELG)

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Celgene Co. (NASDAQ:CELG) was the recipient of some unusual options trading on Thursday. Stock traders purchased 20,976 put options on the company. This is an increase of approximately 1,453% compared to the average volume of 1,351 put options.

Several brokerages have recently weighed in on CELG. BidaskClub raised Celgene from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. ValuEngine lowered Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target on the stock in a research note on Tuesday, July 23rd. Mizuho lowered Celgene from a “buy” rating to a “neutral” rating and decreased their price target for the company from $103.00 to $100.00 in a research note on Monday, August 19th. Finally, Cowen reaffirmed a “hold” rating and issued a $102.00 price target on shares of Celgene in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $94.60.

Shares of CELG stock traded up $0.76 on Friday, reaching $100.57. 2,837,526 shares of the stock were exchanged, compared to its average volume of 3,734,434. The stock has a market cap of $71.28 billion, a PE ratio of 13.22, a P/E/G ratio of 0.51 and a beta of 1.42. Celgene has a one year low of $58.59 and a one year high of $100.96. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.44 and a quick ratio of 3.32. The stock has a 50 day moving average price of $98.06 and a 200 day moving average price of $95.09.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.17. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, research analysts expect that Celgene will post 9.96 earnings per share for the current fiscal year.

In other news, insider Terrie Curran sold 11,338 shares of Celgene stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $98.27, for a total transaction of $1,114,185.26. Following the sale, the insider now owns 13,493 shares of the company’s stock, valued at approximately $1,325,957.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Archford Capital Strategies LLC grew its stake in Celgene by 277.8% in the first quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. First PREMIER Bank acquired a new position in Celgene in the third quarter valued at about $26,000. Liberty Wealth Management LLC grew its stake in Celgene by 212.8% in the second quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Weaver Consulting Group acquired a new position in Celgene in the first quarter valued at about $29,000. Finally, Alera Investment Advisors LLC grew its stake in Celgene by 109.9% in the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 167 shares during the period. 72.41% of the stock is owned by institutional investors and hedge funds.

Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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