Celgene Corporation’s (CELG) “Buy” Rating Reaffirmed at Mizuho
Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reissued by equities researchers at Mizuho in a research report issued on Friday.
Other analysts have also issued research reports about the company. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price objective for the company in a report on Thursday, August 10th. UBS Group AG (USA) lowered Celgene Corporation from a “strong-buy” rating to a “market perform” rating and set a $160.00 price objective for the company. in a report on Thursday, October 26th. BMO Capital Markets decreased their price objective on Celgene Corporation from $163.00 to $148.00 and set an “outperform” rating for the company in a report on Friday, October 27th. SunTrust Banks, Inc. set a $150.00 price objective on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Finally, Canaccord Genuity set a $156.00 price objective on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $139.64.
Celgene Corporation (NASDAQ CELG) traded down $0.49 during trading on Friday, reaching $100.04. The company’s stock had a trading volume of 7,010,679 shares, compared to its average volume of 9,340,000. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. The stock has a market capitalization of $78.76 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 0.76 and a beta of 1.79. Celgene Corporation has a one year low of $94.55 and a one year high of $147.17.
Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. Celgene Corporation’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. research analysts anticipate that Celgene Corporation will post 6.67 earnings per share for the current year.
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In related news, Director Ernest Mario sold 18,506 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now directly owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the transaction, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The disclosure for this sale can be found here. Insiders sold a total of 38,733 shares of company stock worth $5,259,359 over the last ninety days. 0.95% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Celgene Corporation by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Vanguard Group Inc. lifted its stake in Celgene Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after purchasing an additional 1,610,056 shares in the last quarter. State Street Corp lifted its stake in Celgene Corporation by 2.3% in the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after purchasing an additional 723,844 shares in the last quarter. Jennison Associates LLC lifted its stake in Celgene Corporation by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock worth $2,181,818,000 after purchasing an additional 1,546,673 shares in the last quarter. Finally, FMR LLC lifted its stake in Celgene Corporation by 5.9% in the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after purchasing an additional 697,250 shares in the last quarter. 79.39% 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.
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