Celgene Corporation (CELG) Downgraded by JMP Securities to Market Perform

JMP Securities cut shares of Celgene Corporation (NASDAQ:CELG) from an outperform rating to a market perform rating in a research report report published on Friday, Marketbeat Ratings reports.

A number of other analysts have also recently commented on the company. Robert W. Baird reiterated a hold rating and set a $103.00 target price on shares of Celgene Corporation in a research report on Friday. Cann reiterated a buy rating on shares of Celgene Corporation in a research report on Thursday, October 26th. UBS AG cut Celgene Corporation from a strong-buy rating to a market perform rating and set a $160.00 target price on the stock. in a research report on Thursday, October 26th. Wells Fargo & Company cut Celgene Corporation from an outperform rating to a market perform rating in a research report on Thursday, October 26th. Finally, Cantor Fitzgerald set a $162.00 target price on Celgene Corporation and gave the stock a buy rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $139.64.

Shares of Celgene Corporation (NASDAQ:CELG) opened at 100.97 on Friday. The firm’s 50-day moving average price is $135.78 and its 200 day moving average price is $129.85. The stock has a market cap of $78.99 billion, a P/E ratio of 31.27 and a beta of 1.89. Celgene Corporation has a 1-year low of $94.55 and a 1-year high of $147.17.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the firm earned $1.58 earnings per share. Celgene Corporation’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

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In related news, Director Ernest Mario sold 18,506 shares of Celgene Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the transaction, the director now directly owns 69,424 shares in the company, valued at approximately $9,061,220.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation 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 transaction, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders have sold a total of 46,233 shares of company stock valued at $6,268,259 over the last 90 days. Insiders own 0.95% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. raised 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 purchasing an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in 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 acquiring an additional 400 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Celgene Corporation in the 1st quarter valued at $118,000. Guidant Wealth Advisors acquired a new position in Celgene Corporation in the 3rd quarter valued at $119,000. Finally, Motco raised its holdings in 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 acquiring an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 79.39% 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.

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