Zacks Investment Research Upgrades Celgene (CELG) to Hold

Zacks Investment Research upgraded shares of Celgene (NASDAQ:CELG) from a sell rating to a hold rating in a report issued on Monday.

According to Zacks, “Celgene’s Revlimid continue to outperform driven by further market share increases in newly diagnosed myeloma and the continued increase in treatment duration. Pomalyst and Abraxane also performed well. The approval of Idhifa for relapsed and/or refractory acute myeloid leukemia has further boosted the company’s portfolio. However, Celgene is highly dependent on Revlimid. Celgene suffered a setback as the label expansion study on lead drug Revlimid failed in phase III. The drug’s label expansion would have boosted its sales potential. Additionally, the deep yet persistently slow growth of the psoriatic arthritis and psoriasis markets, especially during the entire third quarter, has led to a weak performance of Otezla. Consequently, the company also reduced its annual guidance. Shares have underperformed the industry in the last six months. “

CELG has been the topic of a number of other reports. BMO Capital Markets increased their price objective on shares of Celgene from $148.00 to $155.00 and gave the stock an outperform rating in a research note on Friday, November 17th. Oppenheimer reiterated a buy rating and set a $170.00 price objective on shares of Celgene in a research note on Friday, October 20th. Vetr upgraded shares of Celgene from a buy rating to a strong-buy rating and set a $144.39 price objective on the stock in a research note on Monday, October 23rd. Cann reiterated a buy rating on shares of Celgene in a research note on Thursday, October 26th. Finally, Morgan Stanley upgraded shares of Celgene from an underweight rating to an equal weight rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have given a buy rating to the company. Celgene presently has a consensus rating of Buy and a consensus target price of $131.18.

Celgene (NASDAQ CELG) traded up $1.42 during trading hours on Monday, reaching $106.00. 8,748,823 shares of the company were exchanged, compared to its average volume of 6,330,000. Celgene has a 1-year low of $94.55 and a 1-year high of $147.17. The company has a market capitalization of $83,460.00, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.77. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. Celgene had a net margin of 30.06% and a return on equity of 43.32%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the firm earned $1.58 earnings per share. Celgene’s revenue for the quarter was up 10.2% compared to the same quarter last year. analysts anticipate that Celgene will post 6.68 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CELG. Thompson Davis & CO. Inc. increased its stake in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares in the last quarter. Robecosam AG bought a new stake in shares of Celgene in the 3rd quarter valued at $114,000. Guidant Wealth Advisors bought a new stake in shares of Celgene in the 3rd quarter valued at $119,000. Finally, Capital Bank & Trust Co increased its stake in shares of Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 517 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

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Celgene Company Profile

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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