TheStreet Reiterates “Buy” Rating for Celgene Corp. (CELG)
Celgene Corp. (NASDAQ:CELG)‘s stock had its “buy” rating restated by stock analysts at TheStreet in a report issued on Monday, American Banking & Market News reports.
The analysts wrote, “Celgene Corporation (CELG) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Celgene Corp. (NASDAQ:CELG) traded down 1.27% on Monday, hitting $155.27. The stock had a trading volume of 1,104,754 shares. Celgene Corp. has a one year low of $71.23 and a one year high of $157.95. The stock’s 50-day moving average is $145.8 and its 200-day moving average is $129.. The company has a market cap of $63.859 billion and a price-to-earnings ratio of 43.98. Celgene Corp. also was the target of unusually large options trading on Friday. Investors acquired 13,733 call options on the stock. This is an increase of 141% compared to the typical volume of 5,707 call options.
Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.44 by $0.08. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts expect that Celgene Corp. will post $5.96 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Leerink Swann raised their price target on shares of Celgene Corp. from $165.00 to $177.00 in a research note to investors on Wednesday, September 25th. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Celgene Corp. from $113.00 to $129.00 in a research note to investors on Wednesday, September 18th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Celgene Corp. in a research note to investors on Tuesday, September 10th. They now have a $156.00 price target on the stock. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $142.48.
Celgene Corporation is a global biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
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