Investors Buy Shares of Celgene (CELG) on Weakness

Investors bought shares of Celgene Co. (NASDAQ:CELG) on weakness during trading hours on Wednesday. $313.79 million flowed into the stock on the tick-up and $229.78 million flowed out of the stock on the tick-down, for a money net flow of $84.01 million into the stock. Of all equities tracked, Celgene had the 6th highest net in-flow for the day. Celgene traded down ($2.80) for the day and closed at $102.02

A number of analysts have commented on the stock. Mizuho reaffirmed a “buy” rating and set a $128.00 price target on shares of Celgene in a research report on Wednesday. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research report on Wednesday. UBS Group cut shares of Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 price objective on the stock. in a research report on Thursday, October 26th. BMO Capital Markets cut their price objective on shares of Celgene from $163.00 to $148.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Finally, Robert W. Baird cut shares of Celgene from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $162.00 to $136.00 in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have issued a buy rating to the stock. Celgene has a consensus rating of “Buy” and an average price target of $131.18.

The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. The stock has a market cap of $80,320.00, a P/E ratio of 24.06, a PEG 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the business posted $1.58 EPS. Celgene’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts predict that Celgene Co. will post 6.69 earnings per share for the current year.

Several hedge funds have recently modified their holdings of CELG. Capital Counsel LLC NY boosted its holdings in Celgene by 0.4% in the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 6 shares during the period. Fort Pitt Capital Group LLC boosted its holdings in Celgene by 0.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 11 shares during the period. Savant Capital LLC boosted its holdings in Celgene by 0.9% in the 2nd quarter. Savant Capital LLC now owns 2,350 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 20 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in Celgene by 0.9% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock worth $395,000 after buying an additional 26 shares during the period. Finally, Granite Investment Advisors LLC boosted its holdings in Celgene by 1.1% in the 2nd quarter. Granite Investment Advisors LLC now owns 2,579 shares of the biopharmaceutical company’s stock worth $352,000 after buying an additional 29 shares during the period. Institutional investors own 79.85% 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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