Celgene (CELG) Raised to Hold at Zacks Investment Research

Celgene (NASDAQ:CELG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Celgene’s Revlimid continue to outperform driven by further market share increases in newly diagnosed myeloma and the continued increase in treatment duration. Pomalyst and Abraxane also performed well. The approval of Idhifa for relapsed and/or refractory acute myeloid leukemia has further boosted the company’s portfolio. However, Celgene is highly dependent on Revlimid. Celgene suffered a setback as the label expansion study on lead drug Revlimid failed in phase III. The drug’s label expansion would have boosted its sales potential. Additionally, the deep yet persistently slow growth of the psoriatic arthritis and psoriasis markets, especially during the entire third quarter, has led to a weak performance of Otezla. Consequently, the company also reduced its annual guidance. Shares have underperformed the industry in the last six months. “

Several other research analysts have also recently issued reports on CELG. Stifel Nicolaus set a $130.00 target price on shares of Celgene and gave the stock a “buy” rating in a report on Monday. Oppenheimer set a $166.00 target price on shares of Celgene and gave the stock a “buy” rating in a report on Monday. Credit Suisse Group set a $125.00 target price on shares of Celgene and gave the stock a “buy” rating in a report on Monday. SunTrust Banks set a $127.00 target price on shares of Celgene and gave the stock a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the stock a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company. Celgene has an average rating of “Buy” and an average target price of $131.47.

Celgene (NASDAQ:CELG) traded down $1.41 during mid-day trading on Monday, hitting $103.58. 9,090,000 shares of the company’s stock traded hands, compared to its average volume of 5,720,000. The stock has a market capitalization of $81,550.00, a P/E ratio of 24.43, a PEG ratio of 0.68 and a beta of 1.77. Celgene has a 52-week low of $94.55 and a 52-week high of $147.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.

Celgene (NASDAQ:CELG) last issued 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 had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter last year, the business earned $1.58 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. equities analysts forecast that Celgene will post 6.68 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in shares of Celgene by 4,290.5% during 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 buying an additional 8,217,433 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Celgene 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 buying an additional 3,084,227 shares in the last quarter. Oaktop Capital Management II L.P. bought a new stake in shares of Celgene during the 2nd quarter valued at $271,605,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Celgene by 1,489.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after buying an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Celgene 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 buying an additional 1,610,056 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

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Celgene 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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