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.
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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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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