Cann Reaffirms “Buy” Rating for Celgene (CELG)

Celgene (NASDAQ:CELG)‘s stock had its “buy” rating reiterated by stock analysts at Cann in a research report issued on Monday.

The analysts wrote, “ASH data for AUGMENT, TRANSCEND, BELIEVE and MEDALIST, were very impressive. The TRANSCEND data in relapsed/refractory CLL demonstrated very high ORRs with good durability. We currently have no impact by 2022 for JCAR17, but believe it has important potential post-2022. The positive AUGMENT data are very encouraging in this difficult to treat setting, and could provide a new chemotherapy- free option for these patients. Results from the BELIEVE study support luspatercept as a potential new treatment for adult patients with β-thalassemia, and results from MEDALIST support luspatercept in the treatment of patients with lower-risk MDS. These results for luspatercept in beta-thalassemia and in low-risk MDS could provide potential upside to our outlook, which remains unchanged at this time.””

Several other analysts also recently weighed in on CELG. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Cantor Fitzgerald began coverage on Celgene in a research note on Monday, October 1st. They issued an “overweight” rating and a $100.00 target price on the stock. Leerink Swann set a $112.00 target price on Celgene and gave the stock a “hold” rating in a research note on Friday, October 26th. UBS Group set a $94.00 target price on Celgene and gave the stock a “buy” rating in a research note on Saturday, October 27th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a research note on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Celgene has an average rating of “Buy” and an average price target of $116.99.

Celgene stock traded up $1.16 during trading hours on Monday, hitting $73.38. 447,691 shares of the stock traded hands, compared to its average volume of 6,586,649. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.99 and a current ratio of 2.13. The company has a market cap of $50.50 billion, a PE ratio of 10.73, a PEG ratio of 0.45 and a beta of 1.50. Celgene has a 1 year low of $66.62 and a 1 year high of $110.81.

Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.27. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. As a group, analysts predict that Celgene will post 7.45 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of CELG. Jennison Associates LLC boosted its position in Celgene by 50.2% during the third quarter. Jennison Associates LLC now owns 8,228,124 shares of the biopharmaceutical company’s stock worth $736,335,000 after purchasing an additional 2,748,302 shares in the last quarter. FMR LLC boosted its position in Celgene by 26.0% during the third quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after purchasing an additional 2,119,257 shares in the last quarter. Edgewood Management LLC boosted its position in Celgene by 16.2% during the second quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock worth $1,105,887,000 after purchasing an additional 1,943,607 shares in the last quarter. Renaissance Technologies LLC boosted its position in Celgene by 60.6% during the second quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock worth $327,960,000 after purchasing an additional 1,558,600 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Celgene by 15.3% during the third quarter. Janus Henderson Group PLC now owns 10,461,658 shares of the biopharmaceutical company’s stock worth $936,215,000 after purchasing an additional 1,391,617 shares in the last quarter. Institutional investors own 72.87% of the company’s stock.

About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Analyst Recommendations for Celgene (NASDAQ:CELG)

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