Celgene Corporation (CELG) Rating Reiterated by Cantor Fitzgerald

Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating restated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Friday. They currently have a $159.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 32.27% from the stock’s current price.

The analysts wrote, “Waiting for Guidance. We expect CELG to issue guidance for 2017 in early January. Recent guidance history has involved modest guidance only to creep up through the year, which we think could occur again in 2017. We are not expecting pressure on long term guidance, and continue to value the strength of cash flow, along with share repurchases and possible upside from the pipeline. Our new 2016 forecast goes to $5.93 and our 2017 EPS forecast goes to $7.05. Revlimid Keeps on Going. A key component to CELG’s near term growth is the IMID franchise, anchored by REVLIMID and assisted by Pomalyst. The dynamics in this market (more lines of therapy, longer duration) bode well for continued growth of the multi-billion dollar franchise.””

A number of other analysts have also issued reports on CELG. Vetr lowered shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $129.09 price target for the company. in a research note on Wednesday, December 14th. Leerink Swann restated a “market perform” rating and issued a $135.00 price target on shares of Celgene Corporation in a research note on Monday, September 12th. Oppenheimer Holdings, Inc. began coverage on shares of Celgene Corporation in a research note on Tuesday, November 29th. They issued an “outperform” rating and a $141.00 price target for the company. Piper Jaffray Companies restated a “buy” rating on shares of Celgene Corporation in a research note on Tuesday, October 18th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $142.00 price target on shares of Celgene Corporation in a research note on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company. Celgene Corporation presently has a consensus rating of “Buy” and a consensus price target of $137.31.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

Shares of Celgene Corporation (NASDAQ:CELG) opened at 120.21 on Friday. The firm has a market cap of $93.19 billion, a PE ratio of 45.66 and a beta of 1.74. The stock has a 50 day moving average of $117.82 and a 200 day moving average of $109.36. Celgene Corporation has a 1-year low of $93.05 and a 1-year high of $127.00.

Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.10. Celgene Corporation had a net margin of 19.71% and a return on equity of 70.48%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts anticipate that Celgene Corporation will post $5.92 earnings per share for the current fiscal year.

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In other news, Director Michael A. Friedman sold 18,600 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $116.10, for a total value of $2,159,460.00. Following the completion of the sale, the director now directly owns 18,600 shares in the company, valued at $2,159,460. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Corp /De/ Celgene bought 800,150 shares of the stock in a transaction dated Monday, October 24th. The stock was acquired at an average price of $14.00 per share, with a total value of $11,202,100.00. The disclosure for this purchase can be found here. Company insiders own 0.97% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. First Financial Corp IN boosted its position in Celgene Corporation by 30.9% in the third quarter. First Financial Corp IN now owns 967 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 228 shares in the last quarter. Barnett & Company Inc. boosted its position in Celgene Corporation by 18.3% in the third quarter. Barnett & Company Inc. now owns 1,130 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 175 shares in the last quarter. Jolley Asset Management LLC boosted its position in Celgene Corporation by 58.8% in the second quarter. Jolley Asset Management LLC now owns 1,215 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 450 shares in the last quarter. Smithfield Trust Co. boosted its position in Celgene Corporation by 12.5% in the second quarter. Smithfield Trust Co. now owns 1,282 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 142 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Celgene Corporation by 202.8% in the third quarter. Cornerstone Advisors Inc. now owns 1,320 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 884 shares in the last quarter. Institutional investors own 76.32% of the company’s stock.

About Celgene Corporation

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company 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.

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