What’s Celgene Corporation Upside After Today’s Bearish Options Activity?

 What's Celgene Corporation Upside After Today's Bearish Options Activity?

In today’s session Celgene Corporation (CELG) recorded an unusually high (408) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the April, 2017 put, expecting serious CELG decrease. With 408 contracts traded and 1814 open interest for the Apr, 17 contract, it seems this is a quite bearish bet. The option with symbol: CELG170421P00100000 closed last at: $8.75 or 2.2% down. About 2.81M shares traded hands. Celgene Corporation (NASDAQ:CELG) has declined 1.49% since March 14, 2016 and is downtrending. It has underperformed by 7.10% the S&P500.

Analysts await Celgene Corporation (NASDAQ:CELG) to report earnings on November, 3. They expect $1.31 EPS, up 16.96% or $0.19 from last year’s $1.12 per share. CELG’s profit will be $993.85 million for 19.05 P/E if the $1.31 EPS becomes a reality. After $1.28 actual EPS reported by Celgene Corporation for the previous quarter, Wall Street now forecasts 2.34% EPS growth.

Celgene Corporation (NASDAQ:CELG) Ratings Coverage

Out of 20 analysts covering Celgene Corporation (NASDAQ:CELG), 17 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 85% are positive. Celgene Corporation has been the topic of 36 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Celgene Corporation (NASDAQ:CELG) has “Strong-Buy” rating given on Tuesday, September 1 by Raymond James. Canaccord Genuity maintained it with “Buy” rating and $156 target price in Friday, November 6 report. On Friday, July 24 the stock rating was maintained by JMP Securities with “Mkt Outperform”. As per Wednesday, January 20, the company rating was initiated by Credit Suisse. On Thursday, October 1 the stock rating was upgraded by JP Morgan to “Overweight”. As per Wednesday, August 12, the company rating was maintained by Cowen & Co. The stock of Celgene Corporation (NASDAQ:CELG) has “Market Perform” rating given on Friday, February 5 by Leerink Swann. Citigroup initiated the stock with “Buy” rating in Thursday, February 25 report. The company was maintained on Friday, January 29 by RBC Capital Markets. The firm earned “Buy” rating on Friday, November 6 by UBS.

According to Zacks Investment Research, “Celgene Corp. is an independent biopharmaceutical company engaged primarily in the discovery, development and commercialization of orally administered, small molecule drugs for the treatment of cancer and immunological diseases.”

Insitutional Activity: The institutional sentiment increased to 0.99 in 2016 Q2. Its up 0.06, from 0.93 in 2016Q1. The ratio improved, as 70 funds sold all Celgene Corporation shares owned while 411 reduced positions. 60 funds bought stakes while 418 increased positions. They now own 587.22 million shares or 5.24% less from 619.66 million shares in 2016Q1.
Ibm Retirement Fund accumulated 0.37% or 101,124 shares. Rocky Mountain Advisers Ltd Liability Company has 20 shares for 0.01% of their US portfolio. Jackson Park Capital Llc accumulated 12,000 shares or 1.62% of the stock. Quantbot Tech L P has invested 0.1% of its portfolio in Celgene Corporation (NASDAQ:CELG). Comerica Securities last reported 0.28% of its portfolio in the stock. Moreover, First Heartland Consultants Inc has 0.06% invested in Celgene Corporation (NASDAQ:CELG) for 5,884 shares. First Foundation Advisors owns 24,458 shares or 0.17% of their US portfolio. Bremer National Association last reported 46,969 shares in the company. Bridgecreek Mgmt Ltd Liability Corporation has 1.65% invested in the company for 54,310 shares. Supplemental Annuity Collective Tru Of Nj accumulated 15,288 shares or 0.75% of the stock. Moreover, Fagan Associates has 2% invested in Celgene Corporation (NASDAQ:CELG) for 31,510 shares. Matarin Capital Mgmt Limited Liability Company last reported 0% of its portfolio in the stock. Marietta Inv Prns Limited Liability Company holds 0.08% of its portfolio in Celgene Corporation (NASDAQ:CELG) for 2,140 shares. Advisor Prns Ltd holds 0.35% or 10,215 shares in its portfolio. Fairfield Bush And last reported 13,735 shares in the company.

Insider Transactions: Since July 28, 2016, the stock had 0 insider purchases, and 7 insider sales for $29.76 million net activity. $1.64 million worth of Celgene Corporation (NASDAQ:CELG) was sold by MARIO ERNEST. The insider LOUGHLIN JAMES J sold 27,500 shares worth $3.14 million. $4.92 million worth of shares were sold by CASEY MICHAEL D on Monday, August 22. The insider HUGIN ROBERT J sold 100,000 shares worth $11.00M. 56,116 shares were sold by Friedman Michael A, worth $5.82 million. $1.03M worth of Celgene Corporation (NASDAQ:CELG) was sold by KAPLAN GILLA on Thursday, September 15. 20,000 shares with value of $2.22M were sold by BARKER RICHARD W on Friday, September 23.

Celgene Corporation is a biopharmaceutical company. The company has a market cap of $75.73 billion. The Firm together with its subsidiaries is engaged primarily 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. It has a 41.91 P/E ratio. The Company’s primary commercial stage products include REVLIMID (lenalidomide), ABRAXANE (paclitaxel albumin-bound particles for injectable suspension), POMALYST/IMNOVID (pomalidomide), VIDAZA, azacitidine for injection (generic version of VIDAZA), THALOMID (thalidomide), OTEZLA (apremilast) and ISTODAX (romidepsin).

CELG Company Profile

Celgene Corporation (Celgene), incorporated on April 17, 1986, is a biopharmaceutical company. The Firm together with its subsidiaries is engaged primarily 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. The Company’s primary commercial stage products include REVLIMID (lenalidomide), ABRAXANE (paclitaxel albumin-bound particles for injectable suspension), POMALYST/IMNOVID (pomalidomide), VIDAZA, azacitidine for injection (generic version of VIDAZA), THALOMID (thalidomide), OTEZLA (apremilast) and ISTODAX (romidepsin). The Company’s clinical trial activity includes trials across the disease areas of hematology, oncology, and inflammation and immunology. Celgene is involved in research in a range of scientific areas designed to deliver therapies, targeting areas, including intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases, and therapeutic application of cell therapies.

More important recent Celgene Corporation (NASDAQ:CELG) news were published by: Livetradingnews.com which released: “Celgene Corporation (NASDAQ:CELG) Heffx Trading Outlook” on October 17, 2016, also Profitconfidential.com published article titled: “Celgene Corporation: CELG Stock Charts Are a Must-See”, Businesswire.com published: “Celgene to Present New Data on Investigational Compounds at UEGW and ACG …” on October 13, 2016. More interesting news about Celgene Corporation (NASDAQ:CELG) was released by: Businesswire.com and their article: “Celgene and Agios Announce Collaborations with Abbott for Diagnostic …” with publication date: October 12, 2016.

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