Celgene Corporation (NASDAQ:CELG) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Thursday. The brokerage presently has a $148.32 price objective on the biopharmaceutical company’s stock. Vetr‘s price target points to a potential upside of 13.56% from the stock’s current price.
A number of other research analysts also recently commented on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $162.00 target price on shares of Celgene Corporation in a report on Wednesday, April 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $125.00 target price (up previously from $120.00) on shares of Celgene Corporation in a report on Sunday, April 23rd. Cann reaffirmed a “buy” rating on shares of Celgene Corporation in a report on Thursday, April 27th. Cantor Fitzgerald set a $159.00 target price on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $138.00 target price on shares of Celgene Corporation in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $147.00.
Shares of Celgene Corporation (CELG) opened at 130.61 on Thursday. The company’s 50-day moving average price is $134.14 and its 200 day moving average price is $124.30. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The stock has a market cap of $102.18 billion, a PE ratio of 40.45 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm earned $1.44 EPS. Celgene Corporation’s quarterly revenue was up 18.7% on a year-over-year basis. Equities analysts forecast that Celgene Corporation will post $7.32 EPS for the current fiscal year.
In related news, insider Robert J. Hugin sold 175,970 shares of Celgene Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares of the company’s stock, valued at $138,688,553.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now directly owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,255 shares of company stock valued at $31,377,042. Insiders own 0.95% of the company’s stock.
Several hedge funds have recently made changes to their positions in CELG. Thompson Davis & CO. Inc. boosted its stake in shares of Celgene Corporation by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares in the last quarter. Motco boosted its stake in shares of Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Celgene Corporation during the first quarter worth $118,000. Carroll Financial Associates Inc. boosted its stake in shares of Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 400 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Celgene Corporation during the second quarter worth $129,000. 78.41% of the stock is owned by institutional investors.
About Celgene Corporation
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged 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.
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