Celgene Corp. (CELG) Downgraded to “Sell” at Vetr Inc.
Celgene Corp. (NASDAQ:CELG) was downgraded by Vetr from a “hold” rating to a “sell” rating in a report released on Monday. They currently have a $104.37 price target on the biopharmaceutical company’s stock. Vetr‘s price objective would indicate a potential upside of 5.96% from the stock’s current price.
A number of other research firms have also issued reports on CELG. Robert W. Baird reiterated a “buy” rating and set a $162.00 target price on shares of Celgene Corp. in a report on Tuesday, April 26th. Bank of America Corp. reiterated a “buy” rating and set a $125.00 target price on shares of Celgene Corp. in a report on Monday, April 25th. SunTrust Banks Inc. reiterated a “buy” rating and set a $147.00 target price (up from $145.00) on shares of Celgene Corp. in a report on Thursday, April 28th. Raymond James Financial Inc. reiterated a “buy” rating on shares of Celgene Corp. in a report on Thursday, April 28th. Finally, Piper Jaffray Cos. reiterated a “buy” rating on shares of Celgene Corp. in a report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Celgene Corp. presently has an average rating of “Buy” and a consensus price target of $136.46.
Celgene Corp. (NASDAQ:CELG) traded down 2.12% during midday trading on Monday, hitting $98.50. 4,317,515 shares of the stock traded hands. The company has a 50-day moving average price of $105.76 and a 200 day moving average price of $105.48. The stock has a market cap of $76.35 billion, a price-to-earnings ratio of 41.63 and a beta of 1.49. Celgene Corp. has a one year low of $93.05 and a one year high of $128.39.
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Celgene Corp. (NASDAQ:CELG) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.05. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. Equities research analysts anticipate that Celgene Corp. will post $5.71 earnings per share for the current year.
In other Celgene Corp. news, Director James J. Loughlin sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $114.10, for a total transaction of $3,137,750.00. Following the completion of the transaction, the director now directly owns 42,919 shares in the company, valued at approximately $4,897,057.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Casey sold 43,134 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $114.01, for a total transaction of $4,917,707.34. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Celgene Corp. during the fourth quarter worth approximately $713,714,000. Carmignac Gestion increased its stake in shares of Celgene Corp. by 28.1% in the second quarter. Carmignac Gestion now owns 9,708,359 shares of the biopharmaceutical company’s stock worth $957,535,000 after buying an additional 2,127,659 shares during the period. Wellington Management Group LLP increased its stake in shares of Celgene Corp. by 29.3% in the first quarter. Wellington Management Group LLP now owns 9,105,975 shares of the biopharmaceutical company’s stock worth $911,417,000 after buying an additional 2,062,585 shares during the period. Jennison Associates LLC increased its stake in shares of Celgene Corp. by 14.1% in the fourth quarter. Jennison Associates LLC now owns 14,106,160 shares of the biopharmaceutical company’s stock worth $1,689,354,000 after buying an additional 1,741,019 shares during the period. Finally, Orbis Allan Gray Ltd purchased a new stake in shares of Celgene Corp. during the first quarter worth approximately $119,631,000. Hedge funds and other institutional investors own 77.75% of the company’s stock.
Celgene Corp. Company Profile
Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
To view Vetr’s full report, visit Vetr’s official website.
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