Celgene Corporation (CELG) Earns Buy Rating from Jefferies Group LLC
Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a report released on Friday. They presently have a $160.00 price objective on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 12.64% from the company’s current price.
Several other analysts have also issued reports on the company. BTIG Research lowered Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their target price for the company from $96.93 to $131.70 in a research note on Friday, June 30th. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price on the stock in a research note on Thursday, August 10th. Mizuho boosted their target price on Celgene Corporation from $134.00 to $158.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird restated an “outperform” rating and issued a $162.00 target price on shares of Celgene Corporation in a research note on Monday, May 22nd. Finally, SunTrust Banks, Inc. set a $150.00 target price on Celgene Corporation and gave the company a “buy” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $149.34.
Celgene Corporation (NASDAQ:CELG) traded up 1.02% during midday trading on Friday, reaching $142.04. The company had a trading volume of 5,983,997 shares. The stock’s 50 day moving average is $134.97 and its 200 day moving average is $127.46. The firm has a market capitalization of $111.12 billion, a price-to-earnings ratio of 43.99 and a beta of 1.89. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $142.69.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. Celgene Corporation’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $1.44 earnings per share. Equities research analysts expect that Celgene Corporation will post $7.33 earnings per share for the current year.
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In other news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the completion of the sale, the director now owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now directly owns 1,033,909 shares of the company’s stock, valued at approximately $138,688,553.26. The disclosure for this sale can be found here. In the last three months, insiders sold 267,476 shares of company stock valued at $35,812,841. 0.95% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. Janus Henderson Group PLC lifted its stake in shares of Celgene Corporation by 4,290.5% in the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after acquiring an additional 8,217,433 shares during the last quarter. Norges Bank bought a new stake in shares of Celgene Corporation in the 4th quarter valued at about $694,111,000. BlackRock Inc. lifted its stake in shares of Celgene Corporation by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after acquiring an additional 3,084,227 shares during the last quarter. Jennison Associates lifted its stake in shares of Celgene Corporation by 28.3% in the 3rd quarter. Jennison Associates now owns 12,365,141 shares of the biopharmaceutical company’s stock valued at $1,337,537,000 after acquiring an additional 2,728,714 shares during the last quarter. Finally, Carmignac Gestion lifted its stake in shares of Celgene Corporation by 28.1% in the 2nd quarter. Carmignac Gestion now owns 9,708,359 shares of the biopharmaceutical company’s stock valued at $957,535,000 after acquiring an additional 2,127,659 shares during the last quarter. 79.43% of the stock is owned by institutional investors.
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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