Celgene Price Target Cut to $184.00 by Analysts at Summer Street (CELG)
Summer Street decreased their target price on shares of Celgene (NASDAQ:CELG) from $205.00 to $184.00 in a research note issued on Friday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Summer Street’s target price would suggest a potential upside of 30.27% from the company’s current price.
A number of other firms have also recently commented on CELG. Analysts at Nomura reiterated a “buy” rating on shares of Celgene in a research note on Friday. They now have a $252.00 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of Celgene from a “neutral” rating to an “overweight” rating in a research note on Friday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Celgene in a research note on Friday, March 28th. They now have a $149.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $183.13.
Celgene (NASDAQ:CELG) opened at 141.25 on Friday. Celgene has a 52 week low of $110.53 and a 52 week high of $174.66. The stock’s 50-day moving average is $145.9 and its 200-day moving average is $156.3. The company has a market cap of $57.350 billion and a price-to-earnings ratio of 41.91.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.67 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.65 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company posted $1.37 earnings per share. Celgene’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Celgene will post $7.28 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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