Investors Buy Celgene (CELG) on Weakness

Traders purchased shares of Celgene Co. (NASDAQ:CELG) on weakness during trading on Wednesday. $249.53 million flowed into the stock on the tick-up and $83.85 million flowed out of the stock on the tick-down, for a money net flow of $165.68 million into the stock. Of all stocks tracked, Celgene had the 4th highest net in-flow for the day. Celgene traded down ($0.03) for the day and closed at $105.46

A number of research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and set a $147.00 price target on shares of Celgene in a research note on Wednesday. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating in a research note on Monday. SunTrust Banks set a $127.00 price target on Celgene and gave the stock a “buy” rating in a research note on Monday. Credit Suisse Group set a $125.00 price target on Celgene and gave the stock a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus set a $130.00 price target on Celgene and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $131.18.

The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. The stock has a market capitalization of $83,610.00, a PE ratio of 25.04, a P/E/G ratio of 0.68 and a beta of 1.77.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a return on equity of 43.32% and a net margin of 30.06%. Celgene’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. research analysts anticipate that Celgene Co. will post 6.68 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of CELG. Thompson Davis & CO. Inc. increased its position in shares of Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI grew its holdings in Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Robecosam AG bought a new position in Celgene during the third quarter valued at $114,000. Guidant Wealth Advisors bought a new position in Celgene during the third quarter valued at $119,000. Finally, Capital Bank & Trust Co grew its holdings in Celgene by 166.8% during the third 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 during the period. 79.74% of the stock is owned by institutional investors.

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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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