Celgene (CELG) Shares to Split on Thursday, June 26th
Celgene (NASDAQ:CELG) shares are set to split before the market opens on Thursday, June 26th, American Banking News reports. The 2-1 split was announced on Thursday, June 19th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, June 25th.
Celgene (NASDAQ:CELG) traded up 1.87% during mid-day trading on Friday, hitting $171.46. 5,862,430 shares of the company’s stock traded hands. Celgene has a one year low of $110.53 and a one year high of $174.66. The stock has a 50-day moving average of $154.4 and a 200-day moving average of $155.9. The company has a market cap of $68.655 billion and a price-to-earnings ratio of 53.57. Celgene also saw some unusual options trading on Friday. Investors acquired 21,752 call options on the company. This represents an increase of 321% compared to the typical volume of 5,162 call options.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts expect that Celgene will post $7.32 EPS for the current fiscal year.
A number of analysts have recently weighed in on CELG shares. 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, June 16th. 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $186.71.
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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