Celgene Corp. (CELG) Given Outperform Rating at BMO Capital Markets
Celgene Corp. (NASDAQ:CELG)‘s stock had its “outperform” rating reissued by BMO Capital Markets in a research note issued on Monday. They currently have a $141.00 price objective on the biopharmaceutical company’s stock. BMO Capital Markets’ price target points to a potential upside of 43.15% from the stock’s current price.
Several other research firms have also weighed in on CELG. BTIG Research restated a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a research note on Sunday, August 21st. JPMorgan Chase & Co. restated an “overweight” rating and set a $136.00 price objective on shares of Celgene Corp. in a research note on Friday, August 19th. Jefferies Group restated a “buy” rating on shares of Celgene Corp. in a research note on Monday. RBC Capital Markets restated a “buy” rating on shares of Celgene Corp. in a research note on Tuesday, July 26th. Finally, Bank of America Corp. restated a “buy” rating and set a $128.00 price objective on shares of Celgene Corp. in a research note on Friday, September 16th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $136.46.
Shares of Celgene Corp. (NASDAQ:CELG) traded up 1.32% on Monday, reaching $99.80. 3,649,578 shares of the company’s stock were exchanged. The company has a market cap of $77.36 billion, a price-to-earnings ratio of 42.18 and a beta of 1.49. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39. The firm’s 50-day moving average price is $105.76 and its 200 day moving average price is $105.48.
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Celgene Corp. (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, topping the 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%. Celgene Corp.’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Equities research analysts predict that Celgene Corp. will post $5.71 EPS for the current fiscal year.
In other Celgene Corp. news, insider Robert J. Hugin sold 100,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $110.00, for a total value of $11,000,000.00. Following the completion of the sale, the insider now directly owns 1,022,201 shares in the company, valued at $112,442,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilla Kaplan sold 9,710 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $106.44, for a total transaction of $1,033,532.40. Following the completion of the sale, the director now owns 72,142 shares of the company’s stock, valued at $7,678,794.48. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
A number of large investors have recently bought and sold shares of CELG. Carmignac Gestion boosted its stake in 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 last quarter. Wellington Management Group LLP boosted its stake in 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 last quarter. Orbis Allan Gray Ltd bought a new stake in Celgene Corp. during the first quarter worth approximately $119,631,000. Bank of Montreal Can bought a new stake in Celgene Corp. during the second quarter worth approximately $117,274,000. Finally, Thrivent Financial for Lutherans boosted its stake in Celgene Corp. by 3,648.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,082,701 shares of the biopharmaceutical company’s stock worth $106,825,000 after buying an additional 1,053,816 shares during the last quarter. Institutional investors and hedge funds own 77.70% 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.
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