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Celgene Corporation Director Buys 1,000 Shares (CELG)

Celgene Corporation (NASDAQ: CELG) director Ernest Mario bought 1,000 shares of CELG common stock for $123.72 per share, according to a SEC filing. Mario made a total investment of $123,725.

CELG shares have edged higher in trading today. At last check, the stock was trading 1.38% higher at $126.27 on volume of 1.78 million. CELG shares hit an intra-day high of $127.24 earlier today. Year-to-date, the stock has gained 61%.

Based in Summit, New Jersey, Celgene Corporation is a global biopharmaceutical company focused on the discovery, development, and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.

Earlier this month, CELG’s subsidiary, Celgene International Sarl announced that the U.S. FDA assigned a Priority Review designation to the supplemental New Drug Application (sNDA) for the use of ABRAXANE® in combination with gemcitabine for the first-line treatment of patients with advanced pancreatic cancer.

Celgene Corporation reported its most recent quarterly results (Q1) last month. For the first quarter of 2013, CELG reported net product sales of $1.429 billion, representing an increase of 15% over the same period in the previous year. The company’s adjusted net income for the first quarter stood at $592 million, up 22% on a year-over-year basis.

Celgene’s total revenue for the quarter stood at $1.465 billion, compared to $1.273 billion reported for the same period in the previous year. The company’s adjusted diluted earnings per share for the quarter was $1.37, compared to $1.08 reported for the same period in the previous year.

Bob Hugin, Chairman and CEO of Celgene, last month said that the first quarter delivered remarkable achievements as the result of CELG’s clinical, regulatory, and commercial efforts. Hugin said that with the momentum from these milestones and the opportunities in the rest of the year, the company is well-positioned to achieve its goals for 2013, and accelerate next phase of growth.

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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.