Celgene Corporation (CELG) Rating Reiterated by Piper Jaffray Companies
Celgene Corporation (NASDAQ:CELG)‘s stock had its “neutral” rating restated by Piper Jaffray Companies in a research report issued to clients and investors on Monday. They currently have a $133.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 9.62% from the company’s previous close.
A number of other analysts also recently issued reports on CELG. William Blair restated 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 raised their price objective for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Vetr upgraded shares of Celgene Corporation from a “hold” rating to a “strong-buy” rating and set a $149.76 price objective for the company in a report on Tuesday, July 4th. Cantor Fitzgerald set a $160.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a $139.00 price objective on shares of Celgene Corporation in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $149.71.
Shares of Celgene Corporation (CELG) traded up 0.93% on Monday, reaching $122.46. 1,897,538 shares of the company were exchanged. The company’s 50 day moving average is $140.79 and its 200 day moving average is $130.41. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $147.17. The firm has a market capitalization of $95.81 billion, a PE ratio of 37.93 and a beta of 1.88.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the company posted $1.44 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Analysts forecast that Celgene Corporation will post $7.33 earnings per share for the current year.
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In other Celgene Corporation news, insider Terrie Curran sold 1,727 shares of Celgene Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at $564,768.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,008,900.00. Following the completion of the transaction, the director now owns 76,301 shares in the company, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. Insiders sold 46,233 shares of company stock worth $6,268,259 in the last quarter. 0.95% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CELG. Janus Henderson Group PLC grew its stake in Celgene Corporation by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after purchasing an additional 8,217,433 shares during the last quarter. BlackRock Inc. grew its stake in Celgene Corporation by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares during the last quarter. Oaktop Capital Management II L.P. purchased a new position in Celgene Corporation in the second quarter valued at about $271,605,000. Arrowstreet Capital Limited Partnership grew its stake in Celgene Corporation by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after purchasing an additional 1,787,052 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Celgene Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares during the last quarter. Institutional investors own 79.24% 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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