SunTrust Initiates Coverage on Celgene (CELG)
SunTrust assumed coverage on shares of Celgene (NASDAQ:CELG) in a research note issued on Thursday. The firm set a $121.00 price target on the stock. SunTrust’s target price would suggest a potential upside of 28.82% from the stock’s previous close.
Celgene (NASDAQ:CELG) traded down 1.06% during mid-day trading on Thursday, hitting $93.93. The stock had a trading volume of 3,319,492 shares. Celgene has a 52 week low of $66.85 and a 52 week high of $96.44. The stock has a 50-day moving average of $89.12 and a 200-day moving average of $80.53. The company has a market cap of $75.098 billion and a price-to-earnings ratio of 54.88.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, July 24th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.89 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Celgene will post $3.67 earnings per share for the current fiscal year.
CELG has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Celgene in a research note on Tuesday, August 26th. Separately, analysts at RBC Capital raised their price target on shares of Celgene from $95.00 to $100.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Celgene in a research note on Monday, July 28th. They now have a $92.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $98.20.
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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