Celgene’s (CELG) Buy Rating Reaffirmed at Leerink Swann

Celgene (NASDAQ:CELG)‘s stock had its “buy” rating reiterated by investment analysts at Leerink Swann in a research note issued to investors on Wednesday. They presently have a $120.00 target price on the biopharmaceutical company’s stock. Leerink Swann’s price target would indicate a potential upside of 10.91% from the stock’s previous close.

Several other research analysts have also issued reports on CELG. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a research report on Wednesday, August 16th. Cantor Fitzgerald reissued a “buy” rating on shares of Celgene in a research report on Tuesday, August 22nd. BTIG Research reissued a “neutral” rating on shares of Celgene in a research report on Tuesday, September 5th. Cowen reissued a “buy” rating and issued a $150.00 price target on shares of Celgene in a research report on Tuesday, September 12th. Finally, Bank of America reissued a “buy” rating on shares of Celgene in a research report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $136.21.

Celgene (NASDAQ:CELG) traded down $0.84 during trading hours on Wednesday, reaching $108.20. 5,504,595 shares of the company traded hands, compared to its average volume of 4,785,307. Celgene has a 52-week low of $94.55 and a 52-week high of $147.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. The firm has a market capitalization of $85,850.00, a price-to-earnings ratio of 16.88, a PEG ratio of 0.83 and a beta of 1.77.

Celgene (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, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the business posted $1.58 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. equities research analysts expect that Celgene will post 6.67 earnings per share for the current fiscal year.

In other news, insider Terrie Curran sold 1,727 shares of the stock in a transaction that occurred 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 of the company’s stock, 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. 0.95% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in Celgene 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 acquiring an additional 8,217,433 shares during the last quarter. BlackRock Inc. boosted its stake in Celgene 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 acquiring an additional 3,084,227 shares during the last quarter. Oaktop Capital Management II L.P. bought a new position in Celgene in the second quarter valued at approximately $271,605,000. Arrowstreet Capital Limited Partnership boosted its stake in Celgene 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 acquiring an additional 1,787,052 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Celgene 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 acquiring an additional 1,610,056 shares during the last quarter. 80.16% of the stock is currently owned by institutional investors and hedge funds.

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About Celgene

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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