Celgene Corporation (NASDAQ:CELG) had its price objective lowered by investment analysts at SunTrust Banks, Inc. from $156.00 to $127.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 29.37% from the stock’s current price.

Several other equities analysts also recently commented on CELG. Morgan Stanley downgraded shares of Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Thursday, October 5th. BTIG Research reaffirmed a “hold” rating on shares of Celgene Corporation in a research note on Sunday, October 22nd. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $144.39 price objective for the company in a research note on Monday, October 23rd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. Finally, BMO Capital Markets upped their price objective on shares of Celgene Corporation from $160.00 to $167.00 and gave the company a “positive” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $141.44.

Shares of Celgene Corporation (NASDAQ CELG) traded down 1.82% on Friday, hitting $98.17. The stock had a trading volume of 24,135,277 shares. Celgene Corporation has a 1-year low of $94.55 and a 1-year high of $147.17. The firm has a 50-day moving average of $136.88 and a 200 day moving average of $129.95. The company has a market capitalization of $76.80 billion, a PE ratio of 30.40 and a beta of 1.88.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 68.62%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

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In other news, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the sale, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. 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 firm’s 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 sale, the director now owns 69,424 shares in the company, valued at $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 over the last quarter. Insiders own 0.95% of the company’s stock.

Several hedge funds have recently made changes to their positions in CELG. Waldron LP raised its position in shares of Celgene Corporation by 48.9% during the 1st 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 during the period. Investment Management of Virginia LLC raised its position in shares of Celgene Corporation by 14.2% during the 1st quarter. Investment Management of Virginia LLC now owns 45,733 shares of the biopharmaceutical company’s stock valued at $5,690,000 after purchasing an additional 5,685 shares during the period. Genesee Valley Trust Co. raised its position in shares of Celgene Corporation by 1.1% during the 1st quarter. Genesee Valley Trust Co. now owns 14,657 shares of the biopharmaceutical company’s stock valued at $1,823,000 after purchasing an additional 154 shares during the period. Bbva Compass Bancshares Inc. raised its position in shares of Celgene Corporation by 0.8% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 24,479 shares of the biopharmaceutical company’s stock valued at $3,045,000 after purchasing an additional 185 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Celgene Corporation by 3.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 535,258 shares of the biopharmaceutical company’s stock valued at $66,790,000 after purchasing an additional 18,310 shares during the period. Hedge funds and other institutional investors own 79.23% 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.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

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