J P Morgan Chase & Co set a $123.00 price target on Celgene Corporation (NASDAQ:CELG) in a research note released on Friday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other equities research analysts also recently commented on the company. Morgan Stanley downgraded Celgene Corporation from an equal weight rating to an underweight rating and set a $120.00 price objective for the company. in a report on Thursday, October 5th. BTIG Research reiterated a hold rating on shares of Celgene Corporation in a report on Sunday, October 22nd. 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 report on Monday, October 23rd. Cantor Fitzgerald reiterated a buy rating on shares of Celgene Corporation in a report on Monday, August 28th. Finally, BMO Capital Markets lifted their price objective on Celgene Corporation from $160.00 to $167.00 and gave the stock a positive rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Celgene Corporation currently has an average rating of Buy and an average price target of $141.44.
Celgene Corporation (CELG) opened at 98.17 on Friday. The stock has a market capitalization of $76.80 billion, a P/E ratio of 30.40 and a beta of 1.88. Celgene Corporation has a one year low of $94.55 and a one year high of $147.17. The company has a 50 day moving average of $136.88 and a 200-day moving average of $129.95.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the company earned $1.58 EPS. Celgene Corporation’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts predict that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
In other news, Director Gilla Kaplan sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the transaction, the director now owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the business’s 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 transaction, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,233 shares of company stock worth $6,268,259. Corporate insiders own 0.95% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Celgene Corporation by 5.7% during the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Celgene Corporation by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares during the last quarter. State Street Corp increased its position in shares of Celgene Corporation by 2.3% during the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after purchasing an additional 723,844 shares during the last quarter. Jennison Associates LLC increased its position in shares of Celgene Corporation by 1.2% during the 2nd quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock valued at $1,742,301,000 after purchasing an additional 156,864 shares during the last quarter. Finally, FMR LLC increased its position in shares of Celgene Corporation by 5.9% during the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock valued at $1,635,643,000 after purchasing an additional 697,250 shares during the last quarter. 79.23% of the stock is currently 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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