Celgene Corporation (CELG) Receives Average Rating of “Buy” from Analysts
Shares of Celgene Corporation (NASDAQ:CELG) have received a consensus recommendation of “Buy” from the twenty-nine analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $151.29.
Several analysts recently issued reports on the company. Vetr downgraded Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $146.88 price target for the company. in a report on Tuesday, August 29th. Cantor Fitzgerald restated a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. Bank of America Corporation restated a “buy” rating on shares of Celgene Corporation in a research note on Wednesday, September 13th. Argus raised Celgene Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $96.93 to $160.00 in a research report on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Celgene Corporation in a research report on Tuesday, July 11th.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total transaction of $1,286,027.50. Following the transaction, the director now owns 9,250 shares of the company’s stock, valued at approximately $1,286,027.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ernest Mario sold 18,506 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the sale, the director now owns 69,424 shares in the company, valued at $9,061,220.48. The disclosure for this sale can be found here. Insiders sold 46,233 shares of company stock valued at $6,268,259 in the last ninety days. Corporate insiders own 0.95% of the company’s stock.
Several large investors have recently modified their holdings of CELG. Thompson Davis & CO. Inc. boosted its stake in Celgene Corporation by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Celgene Corporation in the 1st quarter worth $118,000. Motco raised its stake in shares of Celgene Corporation by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 159 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Celgene Corporation in the 2nd quarter worth $129,000. Finally, Balentine LLC lifted its holdings in shares of Celgene Corporation by 83.5% in the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 481 shares during the period. 79.36% of the stock is owned by institutional investors.
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Shares of Celgene Corporation (NASDAQ:CELG) traded up 0.30% during mid-day trading on Wednesday, hitting $146.52. The stock had a trading volume of 2,124,833 shares. The stock has a market cap of $114.63 billion, a P/E ratio of 45.38 and a beta of 1.88. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $147.17. The company’s 50 day moving average price is $138.30 and its 200 day moving average price is $129.24.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts predict that Celgene Corporation will post $7.32 EPS for the current fiscal year.
About Celgene Corporation
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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