Celgene Corporation (CELG) Receives Average Recommendation of “Buy” from Analysts
Celgene Corporation (NASDAQ:CELG) has been given an average recommendation of “Buy” by the thirty ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twenty-two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $147.39.
CELG has been the topic of several recent analyst reports. Leerink Swann upgraded shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $94.42 to $150.00 in a research report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $98.00 price target (up from $93.00) on shares of Celgene Corporation in a report on Wednesday, May 17th. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a report on Monday, June 26th. BTIG Research downgraded shares of Celgene Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the company from $96.93 to $131.70 in a report on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a report on Monday, May 22nd.
Celgene Corporation (CELG) traded down 1.20% on Tuesday, hitting $131.37. 2,446,018 shares of the stock were exchanged. The firm has a market cap of $102.78 billion, a P/E ratio of 40.68 and a beta of 1.89. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $139.00. The company has a 50-day moving average of $134.10 and a 200 day moving average of $124.62.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. Equities research analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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In related news, Director Ernest Mario sold 18,506 shares of Celgene Corporation stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now owns 69,424 shares in the company, valued at approximately $9,061,220.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the sale, the director now owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,761 shares of company stock valued at $33,792,445. 0.95% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Celgene Corporation by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after buying an additional 3,084,227 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Celgene Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after buying an additional 1,610,056 shares during the last quarter. State Street Corp raised its stake in shares of Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after buying an additional 723,844 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Celgene Corporation by 1.2% in the second quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock worth $1,742,301,000 after buying an additional 156,864 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Celgene Corporation by 5.9% in the second quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after buying an additional 697,250 shares during the last quarter. Institutional investors own 78.34% of the company’s stock.
About Celgene Corporation
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged 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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