Canaccord Genuity reaffirmed their buy rating on shares of Celgene Corporation (NASDAQ:CELG) in a research note issued to investors on Friday. They currently have a $140.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $154.00.
Several other brokerages have also recently issued reports on CELG. BTIG Research cut Celgene Corporation from a buy rating to a neutral rating and raised their price objective for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Leerink Swann restated an outperform rating and issued a $160.00 price objective (up from $150.00) on shares of Celgene Corporation in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. restated a buy rating and issued a $170.00 price objective on shares of Celgene Corporation in a research note on Friday, October 20th. Vetr upgraded Celgene Corporation from a buy rating to a strong-buy rating and set a $144.39 price objective for the company in a research note on Monday, October 23rd. Finally, Cann restated a buy rating on shares of Celgene Corporation in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene Corporation has an average rating of Buy and a consensus target price of $139.77.
Celgene Corporation (NASDAQ CELG) opened at 98.17 on Friday. Celgene Corporation has a 12 month low of $94.55 and a 12 month high of $147.17. The firm has a 50-day moving average price of $136.88 and a 200-day moving average price of $129.95. The stock has a market cap of $76.80 billion, a price-to-earnings ratio of 30.40 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.04. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share. Equities research analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
In other news, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the transaction, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ernest Mario sold 18,506 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now directly owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,233 shares of company stock valued at $6,268,259. Insiders own 0.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. boosted its position in shares of Celgene Corporation by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of Celgene Corporation 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 purchasing an additional 400 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Celgene Corporation in the 1st quarter valued at about $118,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene Corporation in the 3rd quarter valued at about $119,000. Finally, Motco boosted its position in shares of Celgene Corporation by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 159 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.
About Celgene Corporation
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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