Celgene (CELG) PT Set at $127.00 by SunTrust Banks

Celgene (NASDAQ:CELG) has been assigned a $127.00 target price by SunTrust Banks in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. SunTrust Banks’ price objective would suggest a potential upside of 20.40% from the stock’s previous close.

CELG has been the topic of several other reports. Mizuho set a $128.00 price objective on shares of Celgene and gave the company a “buy” rating in a report on Tuesday, December 26th. William Blair reissued an “outperform” rating on shares of Celgene in a report on Friday, October 20th. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Citigroup reaffirmed a “hold” rating on shares of Celgene in a report on Friday, December 22nd. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $156.00 price target on shares of Celgene in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $131.18.

Shares of Celgene (CELG) traded down $0.01 during mid-day trading on Monday, reaching $105.48. 2,030,000 shares of the company traded hands, compared to its average volume of 6,130,000. The stock has a market capitalization of $83,050.00, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.68 and a beta of 1.77. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31. Celgene has a 12 month low of $94.55 and a 12 month high of $147.17.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baker Avenue Asset Management LP raised its position in shares of Celgene by 4.8% in the first quarter. Baker Avenue Asset Management LP now owns 13,201 shares of the biopharmaceutical company’s stock worth $1,643,000 after acquiring an additional 601 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Celgene by 0.9% in the first quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock worth $253,000 after acquiring an additional 18 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Celgene in the first quarter worth about $385,000. Horizon Investment Services LLC acquired a new position in shares of Celgene in the first quarter worth about $3,207,000. Finally, Bank of Nova Scotia raised its position in shares of Celgene by 340.0% in the first quarter. Bank of Nova Scotia now owns 192,020 shares of the biopharmaceutical company’s stock worth $23,893,000 after acquiring an additional 148,375 shares during the period. Institutional investors 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.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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