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Stock Drawing Back Today: Celgene Corporation (NASDAQ:CELG)

27 October 2017

Celgene Corporation (NASDAQ:CELG) issued an update on its FY17 earnings guidance on Thursday morning. The biopharmaceutical company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.04. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. During the same quarter a year ago, the firm earned $1.23 EPS. Celgene's shares were down about 18% right after the market opened Thursday. It improved, as 60 investors sold CELG shares while 390 reduced holdings. The company has a 50 day moving average price of $139.20 and a 200-day moving average price of $130.37.

The big biotech now predicts Otelza will reach $1.25 billion for 2017, down from previous estimates of $1.5 billion to $1.7 billion that it gave back in 2015. Celgene Corporation has $190 highest and $83 lowest target. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & global copyright & trademark law. The correct version of this piece of content can be viewed at https://www.truebluetribune.com/2017/10/26/celgene-corporation-celg-posts-earnings-results-beats-estimates-by-0-04-eps.html. Sylebra Hk Company Ltd who had been investing in Ellie Mae Inc for a number of months, seems to be less bullish one the $3.10 billion market cap company. Cantor Fitzgerald reiterated a "buy" rating on shares of Celgene Corporation in a research note on Monday, August 28th. Maxim Group downgraded ContraFect Corp (NASDAQ:CFRX) on Friday, July 22 to "Buy" rating.

Among 30 analysts covering Celgene Corporation (NASDAQ:CELG), 23 have Buy rating, 1 Sell and 6 Hold. The brokerage set an "outperform" rating and a $162.00 price target on the biopharmaceutical company's stock.

Celgene Corporation (NASDAQ:CELG)'s stock has performed at 3.29% year to date. Following the completion of the sale, the director now directly owns 69,424 shares in the company, valued at $9,061,220.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

"After a choppy first quarter that we discussed earlier this year, I think this slowing script volume became more prominent in quarter three", Terrie Curran, Celgene's president of inflammation and immunology, said during an October 26 earnings call. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12.

Nokia is down 19.7% to trade at $4.86, among the worst stocks on the New York Stock Exchange (NYSE) today. The disclosure for this sale can be found here. Also, insider Robert J. Hugin sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, July 28th. Jefferies maintained the shares of CELG in report on Sunday, October 15 with "Buy" rating. Guidant Wealth Advisors acquired a new stake in Celgene Corporation during the 3rd quarter worth $119,000. Arcadia Investment Management Corp MI boosted its stake in Celgene Corporation by 118.7% during the 3rd quarter. Wall Street is looking for the company to report earnings per share of $7.31 for the year. The Jd Capital Management Llc holds 84,811 shares with $11.01M value, up from 43,639 last quarter. Cypress Capital Group now owns 39,742 shares of the biopharmaceutical company's stock worth $5,162,000 after purchasing an additional 4,450 shares during the period. Chiron Investment Management LLC raised its holdings in shares of Celgene Corporation by 38.4% in the 2nd quarter. Krilogy Financial LLC now owns 3,540 shares of the biopharmaceutical company's stock worth $460,000 after purchasing an additional 1,395 shares during the period. Finally, Commonwealth Equity Services Inc increased its position in Celgene Corp.by 7.4% in the first quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company's stock worth $495,000 after purchasing an additional 36 shares during the period.