A number of other analysts have also recently weighed in on the stock. Mizuho set a $103.00 price objective on shares of Celgene and gave the stock a “buy” rating in a report on Friday, April 5th. Cantor Fitzgerald cut shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a report on Friday, April 5th. Zacks Investment Research cut shares of Celgene from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Sanford C. Bernstein cut shares of Celgene from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. Finally, Atlantic Securities cut shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 price objective on the stock. in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $99.41.
Shares of NASDAQ:CELG opened at $93.92 on Wednesday. The company has a market capitalization of $65.50 billion, a P/E ratio of 12.34, a PEG ratio of 0.43 and a beta of 1.71. Celgene has a fifty-two week low of $58.59 and a fifty-two week high of $95.44. The company has a debt-to-equity ratio of 3.21, a quick ratio of 2.12 and a current ratio of 2.23.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.10. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Celgene had a net margin of 26.48% and a return on equity of 114.66%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. As a group, analysts predict that Celgene will post 10.02 earnings per share for the current fiscal year.
In other news, Director James J. Loughlin sold 23,466 shares of Celgene stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the transaction, the director now directly owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Mario bought 2,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was acquired at an average cost of $89.99 per share, for a total transaction of $179,980.00. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in Celgene by 2.8% in the 4th quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock valued at $3,438,486,000 after buying an additional 1,459,100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Celgene by 9,691.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 16,327,522 shares during the last quarter. Geode Capital Management LLC grew its position in Celgene by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock valued at $636,179,000 after buying an additional 787,638 shares during the last quarter. Norges Bank purchased a new position in Celgene in the 4th quarter valued at $484,390,000. Finally, Clearbridge Investments LLC grew its position in Celgene by 9.2% in the 3rd quarter. Clearbridge Investments LLC now owns 7,133,588 shares of the biopharmaceutical company’s stock valued at $638,385,000 after buying an additional 598,631 shares during the last quarter. 74.47% of the stock is currently owned by institutional investors and hedge funds.
Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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