BidaskClub Downgrades Celgene (NASDAQ:CELG) to Hold

BidaskClub lowered shares of Celgene (NASDAQ:CELG) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

Other analysts have also issued research reports about the stock. ValuEngine lowered shares of Celgene from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Cowen reissued a hold rating and issued a $102.00 target price on shares of Celgene in a research report on Tuesday, July 30th. Zacks Investment Research upgraded shares of Celgene from a sell rating to a hold rating and set a $94.00 target price on the stock in a research note on Tuesday, July 23rd. Finally, Mizuho cut shares of Celgene from a buy rating to a neutral rating and reduced their price target for the stock from $103.00 to $100.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $94.60.

Shares of NASDAQ CELG opened at $97.65 on Friday. Celgene has a fifty-two week low of $58.59 and a fifty-two week high of $98.97. The business has a 50 day moving average price of $94.75 and a two-hundred day moving average price of $93.33. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97. The firm has a market cap of $68.80 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.41.

Celgene (NASDAQ:CELG) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.17. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.22 billion. Celgene had a return on equity of 89.93% and a net margin of 32.24%. Celgene’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 EPS. On average, analysts anticipate that Celgene will post 9.96 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Archford Capital Strategies LLC raised its holdings in shares of Celgene by 277.8% during the first quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Liberty Wealth Management LLC boosted its position in Celgene by 212.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 200 shares during the period. Weaver Consulting Group acquired a new position in Celgene during the 1st quarter worth $29,000. Alera Investment Advisors LLC boosted its position in Celgene by 109.9% during the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 167 shares during the period. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Celgene in the first quarter worth $31,000. Hedge funds and other institutional investors own 72.51% of the company’s stock.

About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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