Celgene Corporation (CELG) Downgraded by Vetr Inc. to Hold
Celgene Corporation (NASDAQ:CELG) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Wednesday. They presently have a $145.17 price target on the biopharmaceutical company’s stock. Vetr‘s price objective indicates a potential upside of 3.32% from the stock’s current price.
Several other equities analysts also recently weighed in on CELG. Jefferies Group LLC set a $154.00 target price on Celgene Corporation and gave the company a “buy” rating in a research report on Saturday, May 13th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $98.00 target price (up from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. Robert W. Baird reiterated an “outperform” rating and set a $162.00 target price on shares of Celgene Corporation in a research report on Monday, May 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $152.00 target price on shares of Celgene Corporation in a research report on Tuesday, May 23rd. Finally, Credit Suisse Group set a $148.00 target price on Celgene Corporation and gave the company a “buy” rating in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $147.31.
Shares of Celgene Corporation (CELG) traded down 0.89% during mid-day trading on Wednesday, hitting $140.50. The company’s stock had a trading volume of 3,675,872 shares. The company has a market cap of $109.92 billion, a price-to-earnings ratio of 43.63 and a beta of 1.89. The stock’s 50 day moving average price is $134.31 and its 200 day moving average price is $126.68. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $142.64.
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, topping the Zacks’ 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 return on equity of 68.51% and a net margin of 21.35%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the business posted $1.44 EPS. Equities analysts forecast that Celgene Corporation will post $7.32 EPS for the current year.
In other news, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the transaction, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders sold 263,011 shares of company stock valued at $35,078,473 in the last three months. 0.95% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of CELG. Thompson Davis & CO. Inc. increased its position in shares of Celgene Corporation by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares in the last quarter. Motco increased its position in shares of Celgene Corporation by 306.9% during the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Celgene Corporation during the first quarter worth $118,000. Penserra Capital Management LLC acquired a new position in shares of Celgene Corporation during the second quarter worth $129,000. Finally, Oakworth Capital Inc. increased its position in shares of Celgene Corporation by 60.9% during the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 412 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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