Celgene (NASDAQ:CELG) had its price objective cut by equities research analysts at Stifel Nicolaus from $149.00 to $130.00 in a report released on Saturday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 24.57% from the stock’s previous close.
A number of other brokerages have also weighed in on CELG. Royal Bank of Canada reiterated a “buy” rating and set a $173.00 target price on shares of Celgene in a research note on Thursday, October 5th. Morgan Stanley downgraded 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. Robert W. Baird reissued a “buy” rating and set a $162.00 price objective on shares of Celgene in a research report on Thursday, September 21st. Cantor Fitzgerald reissued a “buy” rating and set a $162.00 price objective on shares of Celgene in a research report on Tuesday, September 26th. Finally, Jefferies Group reissued a “buy” rating and set a $160.00 price objective on shares of Celgene in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $132.63.
Shares of Celgene (CELG) opened at $104.36 on Friday. The firm has a market cap of $82,471.45, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 0.81 and a beta of 1.78. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. Celgene has a 12 month low of $94.55 and a 12 month high of $147.17.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in Celgene by 4.0% in the 1st quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock worth $229,553,000 after purchasing an additional 71,729 shares during the period. Grisanti Capital Management LLC purchased a new stake in Celgene in the 2nd quarter worth about $3,616,000. RiverPoint Capital Management LLC raised its position in Celgene by 3.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock worth $15,799,000 after purchasing an additional 3,680 shares during the period. Iguana Healthcare Management LLC raised its position in Celgene by 12.5% in the 1st quarter. Iguana Healthcare Management LLC now owns 90,000 shares of the biopharmaceutical company’s stock worth $11,199,000 after purchasing an additional 10,000 shares during the period. Finally, LSV Asset Management purchased a new stake in Celgene in the 2nd quarter worth about $1,701,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
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.
