Celgene Corp. Downgraded by Goldman Sachs Group Inc. to “Sell” (CELG)
Celgene Corp. (NASDAQ:CELG) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $140.00 target price on the stock. Goldman Sachs Group Inc.’s price objective would suggest a potential downside of 13.97% from the stock’s previous close. The analysts noted that the move was a valuation call.
In other Celgene Corp. news, Insider Lawrence Stein sold 12,062 shares of Celgene Corp. stock on the open market in a transaction dated Monday, December 23rd. The shares were sold at an average price of $168.19, for a total value of $2,028,707.78. Following the completion of the sale, the insider now directly owns 50 shares of the company’s stock, valued at approximately $8,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Celgene Corp. in a research note to investors on Friday. Separately, analysts at Bank of America Corp. raised their price target on shares of Celgene Corp. to $196.00 in a research note to investors on Thursday, December 19th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the stock. Celgene Corp. currently has a consensus rating of “Buy” and a consensus price target of $164.50.
Shares of Celgene Corp. (NASDAQ:CELG) traded down 4.23% on Monday, hitting $162.62. The stock had a trading volume of 4,621,721 shares. Celgene Corp. has a one year low of $81.33 and a one year high of $173.80. The stock has a 50-day moving average of $163.9 and a 200-day moving average of $147.3. The company has a market cap of $67.011 billion and a P/E ratio of 48.89.
Celgene Corp. (NASDAQ:CELG) last announced its earnings results on Thursday, October 24th. The company reported $1.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.54 by $0.02. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $1.29 earnings per share. Celgene Corp.’s revenue was up 18.0% compared to the same quarter last year. On average, analysts predict that Celgene Corp. will post $6.00 earnings per share for the current fiscal year.
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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