Celgene (CELG) Stock Rating Lowered by Bank of America

Bank of America lowered shares of Celgene (NASDAQ:CELG) from a buy rating to a neutral rating in a report published on Friday morning, MarketBeat Ratings reports. They currently have $120.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $104.68.

Other analysts also recently issued reports about the company. Cowen reiterated a buy rating and set a $150.00 target price on shares of Celgene in a research report on Tuesday, September 12th. Vetr raised Celgene from a hold rating to a buy rating and set a $146.58 price target for the company in a report on Friday, October 6th. Royal Bank of Canada reissued a buy rating and issued a $173.00 price target on shares of Celgene in a report on Thursday, October 5th. Cantor Fitzgerald reissued a buy rating and issued a $162.00 price target on shares of Celgene in a report on Tuesday, September 26th. Finally, Robert W. Baird reiterated a buy rating and issued a $162.00 target price on shares of Celgene in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the stock. Celgene presently has an average rating of Buy and an average price target of $131.35.

Celgene (NASDAQ CELG) traded up $1.15 during trading on Friday, hitting $105.33. The company had a trading volume of 2,428,940 shares, compared to its average volume of 7,625,340. 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 has a 12-month low of $94.55 and a 12-month high of $147.17. The stock has a market capitalization of $82,640.00, a P/E ratio of 24.84, a PEG ratio of 0.68 and a beta of 1.77.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. Celgene’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. research analysts expect that Celgene will post 6.68 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in CELG. Arcadia Investment Management Corp MI increased its position in Celgene 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 period. Thompson Davis & CO. Inc. boosted its stake in Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares in the last quarter. Robecosam AG bought a new position in Celgene during the 3rd quarter valued at $114,000. Capital Bank & Trust Co boosted its stake in Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares in the last quarter. Finally, Guidant Wealth Advisors bought a new position in Celgene during the 3rd quarter valued at $119,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

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About Celgene

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.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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