Celgene Corporation (CELG) Cut to Buy at Vetr Inc.

Vetr downgraded shares of Celgene Corporation (NASDAQ:CELG) from a strong-buy rating to a buy rating in a report published on Thursday, May 11th. The brokerage currently has $132.90 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on CELG. Robert W. Baird reissued an outperform rating and set a $162.00 price objective on shares of Celgene Corporation in a report on Wednesday, January 11th. Cowen and Company reissued an outperform rating and set a $150.00 price objective on shares of Celgene Corporation in a report on Thursday, January 12th. Zacks Investment Research raised shares of Celgene Corporation from a sell rating to a hold rating in a report on Friday, January 13th. Cantor Fitzgerald set a $159.00 price objective on shares of Celgene Corporation and gave the company a buy rating in a report on Friday, January 13th. Finally, Cann reissued a buy rating on shares of Celgene Corporation in a report on Thursday, January 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $139.49.

Celgene Corporation (NASDAQ CELG) traded up 1.45% during trading on Thursday, hitting $122.36. The stock had a trading volume of 7,424,941 shares. The firm has a 50 day moving average of $119.15 and a 200-day moving average of $119.62. The stock has a market cap of $95.54 billion, a price-to-earnings ratio of 45.95 and a beta of 1.82. Celgene Corporation has a 12 month low of $94.42 and a 12 month high of $127.64. Celgene Corporation also was the recipient of some unusual options trading activity on Friday. Investors acquired 1,785 call options on the company. This is an increase of 104% compared to the typical daily volume of 873 call options.

Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.21. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.04 billion. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. Equities analysts predict that Celgene Corporation will post $7.29 earnings per share for the current year.

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In other news, Director James J. Loughlin sold 9,250 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $124.00, for a total value of $1,147,000.00. Following the transaction, the director now directly owns 32,169 shares in the company, valued at approximately $3,988,956. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the transaction, the insider now owns 4,004 shares in the company, valued at $481,200.72. The disclosure for this sale can be found here. In the last three months, insiders sold 28,068 shares of company stock valued at $3,459,768. Corporate insiders own 0.95% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Motco raised its stake in 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 during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Celgene Corporation during the first quarter worth about $118,000. Carroll Financial Associates Inc. raised its stake in 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 during the period. FNY Managed Accounts LLC acquired a new stake in Celgene Corporation during the first quarter worth about $131,000. Finally, Oakworth Capital Inc. raised its stake in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.

Celgene Corporation 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.

To view Vetr’s full report, visit Vetr’s official website.

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