Insider Selling: Perry A. Karsen Sells 39,104 Shares of Celgene Stock (CELG)
Celgene (NASDAQ:CELG) Insider Perry A. Karsen sold 39,104 shares of the stock on the open market in a transaction dated Monday, August 4th. The shares were sold at an average price of $87.55, for a total transaction of $3,423,555.20. Following the completion of the sale, the insider now directly owns 58,756 shares in the company, valued at approximately $5,144,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Celgene (NASDAQ:CELG) traded down 1.02% during mid-day trading on Tuesday, hitting $86.57. The stock had a trading volume of 3,903,086 shares. Celgene has a one year low of $65.76 and a one year high of $90.50. The stock’s 50-day moving average is $86.41 and its 200-day moving average is $78.81. The company has a market cap of $69.214 billion and a P/E ratio of 50.55.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, July 24th. The company reported $0.90 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.89 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $1.52 earnings per share. Celgene’s revenue was up 17.1% compared to the same quarter last year. Analysts expect that Celgene will post $3.68 EPS for the current fiscal year.
CELG has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Celgene in a research note on Monday, July 28th. They now have a $92.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Celgene in a research note on Friday, July 25th. They now have a $95.00 price target on the stock, up previously from $85.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Celgene in a research note on Friday, July 25th. They now have a $113.00 price target on the stock, up previously from $112.50. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.28.
Celgene Corporation is a global biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
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