Celgene Corp. (CELG) Earns Outperform Rating from Cowen and Company
Celgene Corp. (NASDAQ:CELG)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a research report issued on Tuesday. They presently have a $150.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s target price points to a potential upside of 50.54% from the stock’s previous close.
A number of other research analysts also recently commented on CELG. JMP Securities reissued a “buy” rating and issued a $152.00 price objective on shares of Celgene Corp. in a research report on Thursday, June 23rd. Vetr downgraded shares of Celgene Corp. from a “strong-buy” rating to a “buy” rating and set a $111.27 price objective for the company. in a research report on Thursday, June 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $156.00 target price on shares of Celgene Corp. in a report on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating and set a $140.00 target price on shares of Celgene Corp. in a report on Wednesday, June 29th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Celgene Corp. in a report on Thursday, June 30th. Three equities 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. has a consensus rating of “Buy” and a consensus price target of $136.46.
Celgene Corp. (NASDAQ:CELG) traded up 0.75% during midday trading on Tuesday, hitting $100.39. 1,700,755 shares of the stock traded hands. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39. The company has a 50-day moving average of $105.50 and a 200-day moving average of $105.57. The stock has a market cap of $77.81 billion, a PE ratio of 42.43 and a beta of 1.49.
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Celgene Corp. (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The company earned $2.74 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the firm posted $1.23 EPS. The company’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts anticipate that Celgene Corp. will post $5.71 earnings per share for the current year.
In other news, insider Robert J. Hugin sold 100,000 shares of the company’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 sale, the insider now directly owns 1,022,201 shares of the company’s stock, valued at approximately $112,442,110. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael A. Friedman sold 56,116 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $103.66, for a total transaction of $5,816,984.56. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $5,183,000. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CELG. Woodstock Corp raised its stake in Celgene Corp. by 2.0% in the first quarter. Woodstock Corp now owns 105,041 shares of the biopharmaceutical company’s stock worth $10,514,000 after buying an additional 2,040 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in Celgene Corp. by 1.9% in the first quarter. Peapack Gladstone Financial Corp now owns 57,230 shares of the biopharmaceutical company’s stock worth $5,728,000 after buying an additional 1,050 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Celgene Corp. by 12.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 13,336 shares of the biopharmaceutical company’s stock worth $1,335,000 after buying an additional 1,499 shares in the last quarter. Columbia Partners L L C Investment Management purchased a new stake in Celgene Corp. during the first quarter worth approximately $5,169,000. Finally, Nikko Asset Management Americas Inc. raised its stake in Celgene Corp. by 21.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 5,600 shares of the biopharmaceutical company’s stock worth $553,000 after buying an additional 1,000 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors.
About Celgene Corp.
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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