Celgene (NASDAQ:CELG) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports.
A number of other equities analysts have also commented on the stock. Morgan Stanley lowered shares of Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Thursday, October 5th. BTIG Research restated a “hold” rating on shares of Celgene in a research report on Sunday, October 22nd. Cantor Fitzgerald restated a “hold” rating and issued a $112.00 price objective 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 objective for the company in a research report on Monday, October 23rd. Finally, Oppenheimer set a $166.00 price objective on shares of Celgene and gave the company a “buy” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued 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 $134.92.
Celgene (NASDAQ:CELG) opened at $106.97 on Wednesday. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31. The firm has a market cap of $83,720.00, a PE ratio of 25.23, a price-to-earnings-growth ratio of 0.82 and a beta of 1.77. Celgene has a 1 year low of $94.55 and a 1 year high of $147.17.
Several hedge funds have recently bought and sold shares of CELG. BlackRock Inc. lifted its position in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after buying an additional 3,084,227 shares during the last quarter. Vanguard Group Inc. increased 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 worth $6,951,579,000 after purchasing an additional 1,610,056 shares during the period. State Street Corp increased its stake in Celgene by 2.3% in the first 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 during the period. BlackRock Institutional Trust Company N.A. increased its stake in Celgene by 2.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 20,712,785 shares of the biopharmaceutical company’s stock worth $2,165,107,000 after purchasing an additional 471,143 shares during the period. Finally, Jennison Associates LLC increased its stake in Celgene by 14.1% in the third quarter. Jennison Associates LLC now owns 15,921,002 shares of the biopharmaceutical company’s stock worth $1,664,222,000 after purchasing an additional 1,967,645 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.
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Celgene Company Profile
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.
