Mizuho Reaffirms Buy Rating for Celgene Corporation (CELG)

Mizuho reaffirmed their buy rating on shares of Celgene Corporation (NASDAQ:CELG) in a research report sent to investors on Friday morning.

Several other equities research analysts have also issued reports on the stock. Oppenheimer Holdings, Inc. reissued a buy rating and set a $166.00 target price (up from $163.00) on shares of Celgene Corporation in a research note on Monday, October 30th. Cantor Fitzgerald restated a hold rating and set a $112.00 price target on shares of Celgene Corporation in a research report on Monday, October 30th. J P Morgan Chase & Co set a $123.00 price target on shares of Celgene Corporation and gave the stock a buy rating in a research report on Friday, October 27th. UBS AG reduced their price target on shares of Celgene Corporation from $146.00 to $120.00 and set a buy rating for the company in a research report on Friday, October 27th. Finally, Canaccord Genuity restated a buy rating and set a $140.00 price target (down previously from $154.00) on shares of Celgene Corporation in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $139.64.

Shares of Celgene Corporation (NASDAQ CELG) opened at $100.04 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. Celgene Corporation has a 12 month low of $94.55 and a 12 month high of $147.17. The stock has a market cap of $78,763.19, a PE ratio of 15.63, a PEG ratio of 0.77 and a beta of 1.79.

Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The business 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 company’s revenue for the quarter was up 10.2% on a year-over-year basis. research analysts predict that Celgene Corporation will post 6.67 earnings per share for the current year.

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In other news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total value of $1,286,027.50. Following the sale, the director now directly owns 9,250 shares in the company, valued at approximately $1,286,027.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now owns 69,424 shares in the company, valued at $9,061,220.48. The disclosure for this sale can be found here. Insiders sold a total of 38,733 shares of company stock valued at $5,259,359 in the last three months. 0.95% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CELG. Janus Henderson Group PLC raised its holdings in shares of Celgene Corporation by 4,290.5% in the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after purchasing an additional 8,217,433 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Celgene Corporation by 5.7% in 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 in the last quarter. Oaktop Capital Management II L.P. acquired a new stake in shares of Celgene Corporation in the 2nd quarter valued at $271,605,000. Arrowstreet Capital Limited Partnership raised its stake in Celgene Corporation by 1,489.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after acquiring an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Celgene Corporation by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares in the last quarter. Institutional investors and hedge funds own 78.92% 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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