Celgene Corp. (CELG) Earns “Outperform” Rating from Cowen and Company
Celgene Corp. (NASDAQ:CELG)‘s stock had its “outperform” rating reissued by investment analysts at Cowen and Company in a note issued to investors on Tuesday. They presently have a $150.00 price objective on the biopharmaceutical company’s stock. Cowen and Company’s price objective would indicate a potential upside of 50.54% from the company’s previous close.
CELG has been the topic of several other research reports. Robert W. Baird restated an “outperform” rating and set a $162.00 target price on shares of Celgene Corp. in a research report on Tuesday, September 13th. BMO Capital Markets restated an “outperform” rating and set a $141.00 target price on shares of Celgene Corp. in a research report on Tuesday, August 23rd. Citigroup Inc. upped their target price on Celgene Corp. from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, September 29th. Zacks Investment Research upgraded Celgene Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Friday, October 7th. Finally, Bank of America Corp. restated a “buy” rating and set a $128.00 target price on shares of Celgene Corp. in a research report on Friday, September 16th. 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. The company presently has a consensus rating of “Buy” and an average target price of $136.46.
Shares of Celgene Corp. (NASDAQ:CELG) traded up 0.61% during midday trading on Tuesday, reaching $100.25. The company had a trading volume of 1,653,796 shares. The stock’s 50 day moving average is $105.50 and its 200-day moving average is $105.57. The stock has a market capitalization of $77.71 billion, a PE ratio of 42.37 and a beta of 1.49. Celgene Corp. has a 12-month low of $93.05 and a 12-month high of $128.39.
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Celgene Corp. (NASDAQ:CELG) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.39 by $0.05. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities research analysts predict that Celgene Corp. will post $5.71 earnings per share for the current fiscal year.
In related news, insider Robert J. Hugin sold 100,000 shares of Celgene Corp. stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $110.00, for a total transaction of $11,000,000.00. Following the completion of the sale, the insider now owns 1,022,201 shares of the company’s stock, valued at $112,442,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Casey sold 43,134 shares of Celgene Corp. stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $114.01, for a total value of $4,917,707.34. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Carmignac Gestion raised 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 valued at $957,535,000 after buying an additional 2,127,659 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $911,417,000 after buying an additional 2,062,585 shares during the period. Orbis Allan Gray Ltd purchased a new stake in shares of Celgene Corp. during the first quarter valued at about $119,631,000. Bank of Montreal Can purchased a new stake in shares of Celgene Corp. during the second quarter valued at about $117,274,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of 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 valued at $106,825,000 after buying an additional 1,053,816 shares during the period. 77.70% of the stock is 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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