Celgene Corporation (CELG) Stock Rating Upgraded by Morgan Stanley

Celgene Corporation (NASDAQ:CELG) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Friday.

Several other brokerages have also issued reports on CELG. Royal Bank Of Canada reaffirmed a “buy” rating and set a $173.00 target price on shares of Celgene Corporation in a research report on Thursday, October 5th. Robert W. Baird reaffirmed a “buy” rating and set a $162.00 target price on shares of Celgene Corporation in a research report on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $162.00 target price on shares of Celgene Corporation in a research report on Tuesday, September 26th. Bank of America Corporation reaffirmed a “buy” rating on shares of Celgene Corporation in a research report on Wednesday, September 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of Celgene Corporation in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $141.44.

Celgene Corporation (NASDAQ:CELG) traded down 1.82% during midday trading on Friday, reaching $98.17. The company had a trading volume of 24,135,277 shares. The firm has a 50-day moving average of $136.88 and a 200 day moving average of $129.95. The company has a market capitalization of $77.29 billion, a P/E ratio of 23.04 and a beta of 1.88. Celgene Corporation has a 1-year low of $94.55 and a 1-year high of $147.17.

Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene Corporation had a return on equity of 68.62% and a net margin of 27.36%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Celgene Corporation will post $7.32 EPS for the current year.

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In related news, Director Gilla Kaplan sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the completion of the sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,233 shares of company stock valued at $6,268,259. Insiders own 0.95% of the company’s stock.

Several large investors have recently bought and sold shares of CELG. Thompson Davis & CO. Inc. increased its holdings 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 valued at $100,000 after purchasing an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of Celgene Corporation by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Celgene Corporation in the first quarter valued at approximately $118,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene Corporation in the third quarter valued at approximately $119,000. Finally, Motco increased its holdings in shares of Celgene Corporation by 19.3% in the second quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 159 shares during the last quarter. 79.23% of the stock is owned by hedge funds and other institutional investors.

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.

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