Celgene Corporation (CELG) Stock Rating Reaffirmed by Royal Bank Of Canada
Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating restated by research analysts at Royal Bank Of Canada in a report released on Thursday. They currently have a $173.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 18.07% from the stock’s current price.
Several other brokerages have also commented on CELG. BTIG Research lowered Celgene Corporation from a “buy” rating to a “neutral” rating and increased their price objective for the company from $96.93 to $131.70 in a report on Friday, June 30th. Leerink Swann reiterated an “outperform” rating and set a $160.00 price objective (up previously from $150.00) on shares of Celgene Corporation in a report on Friday, July 28th. Argus upgraded Celgene Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $96.93 to $160.00 in a report on Monday, July 31st. Credit Suisse Group set a $148.00 price objective on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Finally, Cann reiterated a “buy” rating on shares of Celgene Corporation in a report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $150.54.
Shares of Celgene Corporation (NASDAQ:CELG) traded down 5.72% on Thursday, reaching $138.14. The company’s stock had a trading volume of 5,307,333 shares. Celgene Corporation has a one year low of $96.93 and a one year high of $147.17. The firm has a 50-day moving average price of $138.73 and a 200 day moving average price of $129.37. The firm has a market capitalization of $108.07 billion, a PE ratio of 42.78 and a beta of 1.88.
Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,233 shares of company stock worth $6,268,259. Corporate insiders own 0.95% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Counsel LLC NY raised its position in Celgene Corporation by 0.4% in the second quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 6 shares during the period. Fort Pitt Capital Group LLC grew its stake in shares of Celgene Corporation by 0.6% in the second quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after acquiring an additional 11 shares in the last quarter. Sowell Financial Services LLC grew its stake in shares of Celgene Corporation by 0.5% in the first quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 13 shares in the last quarter. South Texas Money Management Ltd. grew its stake in shares of Celgene Corporation by 0.6% in the first quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock worth $305,000 after acquiring an additional 15 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Celgene Corporation by 0.9% in the first quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock worth $253,000 after acquiring an additional 18 shares in the last quarter. 79.36% of the stock is currently owned by institutional investors.
Celgene Corporation 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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