Celgene Corporation (CELG) Receives Buy Rating from Cantor Fitzgerald
Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Tuesday.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC set a $154.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a report on Saturday, May 13th. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the company from $96.93 to $131.70 in a report on Friday, June 30th. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target on the stock in a report on Thursday, August 10th. Robert W. Baird restated an “outperform” rating and set a $162.00 price target on shares of Celgene Corporation in a report on Monday, May 22nd. Finally, SunTrust Banks, Inc. set a $150.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $147.44.
Shares of Celgene Corporation (NASDAQ:CELG) traded up 2.00% on Tuesday, hitting $129.98. 1,268,936 shares of the stock were exchanged. The company has a market cap of $101.69 billion, a P/E ratio of 40.25 and a beta of 1.89. The firm’s 50-day moving average is $133.67 and its 200-day moving average is $125.12. Celgene Corporation has a one year low of $96.93 and a one year high of $139.00.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, equities analysts forecast that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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In other Celgene Corporation news, insider Rupert Vessey sold 4,785 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the sale, the insider now directly owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the stock in a transaction on 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 directly owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,761 shares of company stock valued at $33,792,445. Insiders own 0.95% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. increased its stake in shares of Celgene Corporation by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares during the period. Motco increased its stake in shares of Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Celgene Corporation during the first quarter worth $118,000. Penserra Capital Management LLC bought a new stake in shares of Celgene Corporation during the second quarter worth $129,000. Finally, Oakworth Capital Inc. increased its stake in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the period. 78.34% of the stock is owned by hedge funds and other institutional investors.
Celgene Corporation Company Profile
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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