Celgene Receives Average Rating of “Buy” from Analysts (NASDAQ:CELG)
Celgene (NASDAQ:CELG) has earned an average rating of “Buy” from the twenty-two ratings firms that are covering the company, AmericanBankingNews.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $186.71.
Celgene (NASDAQ:CELG) opened at 168.308 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 $153.8 and its 200-day moving average is $155.9. The company has a market cap of $67.393 billion and a P/E ratio of 53.57.
Celgene (NASDAQ:CELG) last released its 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.
A number of research firms have recently commented on CELG. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Celgene in a research note on Thursday. They now have a $225.00 price target on the stock, up previously from $210.00. Separately, analysts at Morgan Stanley initiated coverage on shares of Celgene in a research note on Monday. They set an “equal weight” rating and a $150.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Celgene from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 29th. They now have a $170.00 price target on the stock, down previously from $180.00.
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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