Celgene (CELG) Upgraded by BidaskClub to Hold

Celgene (NASDAQ:CELG) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on CELG. Morgan Stanley lowered shares of Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Thursday, October 5th. BTIG Research reiterated a “hold” rating on shares of Celgene in a research report on Sunday, October 22nd. Cantor Fitzgerald reiterated a “hold” rating and issued a $112.00 price target on shares of Celgene in a research report on Monday, October 30th. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price target on the stock in a research report on Monday, October 23rd. Finally, Oppenheimer set a $166.00 price target on shares of Celgene and gave the company a “buy” rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $136.21.

Shares of Celgene (CELG) traded up $1.17 during trading on Tuesday, reaching $109.41. 9,719,225 shares of the company’s stock were exchanged, compared to its average volume of 5,339,085. Celgene has a 12 month low of $94.55 and a 12 month high of $147.17. 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 $86,140.36, a PE ratio of 17.10, a PEG ratio of 0.84 and a beta of 1.78.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts predict that Celgene will post 6.68 earnings per share for the current fiscal year.

In related news, insider Terrie Curran sold 1,727 shares of the firm’s 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 owns 3,925 shares in the company, valued at $564,768.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CELG. Neuberger Berman Group LLC boosted its holdings in shares of Celgene by 4.0% in the 1st quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after purchasing an additional 71,729 shares during the last quarter. Grisanti Capital Management LLC acquired a new position in shares of Celgene in the 2nd quarter valued at $3,616,000. Lincoln Capital Corp boosted its holdings in shares of Celgene by 0.6% in the 2nd quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock valued at $3,971,000 after purchasing an additional 185 shares during the last quarter. RiverPoint Capital Management LLC boosted its holdings in shares of Celgene by 3.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after purchasing an additional 3,680 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Celgene by 9.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock valued at $83,344,000 after acquiring an additional 54,210 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.

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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.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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