Celgene (CELG) Stock Rating Reaffirmed by Royal Bank of Canada
Celgene (NASDAQ:CELG)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank of Canada in a report issued on Thursday. They presently have a $147.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 37.80% from the company’s current price.
Several other research firms also recently commented on CELG. BMO Capital Markets boosted their target price on Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Oppenheimer reissued a “buy” rating and issued a $170.00 target price on shares of Celgene in a report on Friday, October 20th. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 target price on the stock in a report on Monday, October 23rd. Cann reaffirmed a “buy” rating on shares of Celgene in a report on Thursday, October 26th. Finally, Morgan Stanley raised Celgene from an “underweight” rating to an “equal weight” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $132.59.
Celgene (CELG) traded down $2.46 during trading on Thursday, reaching $106.68. The company’s stock had a trading volume of 5,892,200 shares, compared to its average volume of 5,610,000. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. Celgene has a twelve month low of $94.55 and a twelve month high of $147.17. The company has a market capitalization of $83,990.00, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 0.69 and a beta of 1.77.
A number of institutional investors and hedge funds have recently modified their holdings of CELG. Janus Henderson Group PLC grew its position in shares of Celgene by 4,290.5% during the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after purchasing an additional 8,217,433 shares in the last quarter. BlackRock Inc. grew its position in shares of Celgene by 5.7% during the second 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. Oaktop Capital Management II L.P. purchased a new stake in shares of Celgene during the second quarter worth about $271,605,000. Arrowstreet Capital Limited Partnership grew its position in shares of Celgene by 1,489.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after purchasing an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Celgene by 3.1% during 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 in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.
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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