Celgene Corporation (NASDAQ:CELG) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $120.00 price objective on the biopharmaceutical company’s stock. Morgan Stanley’s target price points to a potential downside of 14.29% from the company’s current price.

Several other equities research analysts have also commented on the stock. Leerink Swann upgraded shares of Celgene Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $94.42 to $150.00 in a research note on Friday, June 16th. They noted that the move was a valuation call. William Blair restated an “outperform” rating on shares of Celgene Corporation in a research note on Monday, June 26th. Cantor Fitzgerald restated a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $96.93 to $131.70 in a research note on Friday, June 30th. Finally, BidaskClub upgraded shares of Celgene Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $150.54.

Shares of Celgene Corporation (CELG) traded down 4.44% during trading on Thursday, hitting $140.01. The stock had a trading volume of 13,293,876 shares. The stock has a market cap of $109.54 billion, a P/E ratio of 43.36 and a beta of 1.88. Celgene Corporation has a one year low of $96.93 and a one year high of $147.17. The stock’s 50 day moving average price is $138.73 and its 200-day moving average price is $129.37.

Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the business earned $1.44 EPS. Celgene Corporation’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

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In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the company’s 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 directly owns 69,424 shares in the company, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. Insiders sold 46,233 shares of company stock worth $6,268,259 in the last ninety days. Insiders own 0.95% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CELG. Waldron LP lifted its holdings in shares of Celgene Corporation by 48.9% in the first quarter. Waldron LP now owns 5,207 shares of the biopharmaceutical company’s stock valued at $640,000 after purchasing an additional 1,709 shares in the last quarter. Security National Trust Co. lifted its holdings in shares of Celgene Corporation by 53.6% in the first quarter. Security National Trust Co. now owns 8,339 shares of the biopharmaceutical company’s stock valued at $1,037,000 after purchasing an additional 2,910 shares in the last quarter. Dowling & Yahnke LLC lifted its holdings in shares of Celgene Corporation by 3.5% in the first quarter. Dowling & Yahnke LLC now owns 26,917 shares of the biopharmaceutical company’s stock valued at $3,349,000 after purchasing an additional 913 shares in the last quarter. Jones Collombin Investment Counsel Inc lifted its holdings in shares of Celgene Corporation by 1,255.7% in the first quarter. Jones Collombin Investment Counsel Inc now owns 22,640 shares of the biopharmaceutical company’s stock valued at $2,817,000 after purchasing an additional 20,970 shares in the last quarter. Finally, Enterprise Financial Services Corp lifted its holdings in shares of Celgene Corporation by 622.6% in the first quarter. Enterprise Financial Services Corp now owns 2,623 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 2,260 shares in the last quarter. 79.36% of the stock is currently owned by 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.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

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