Celgene (NASDAQ:CELG) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat reports. They currently have a $120.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $104.68. Bank of America’s price target suggests a potential upside of 14.30% from the stock’s current price.
A number of other analysts also recently issued reports on CELG. UBS Group downgraded Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 target price for the company. in a research report on Thursday, October 26th. BMO Capital Markets cut their price target on Celgene from $163.00 to $148.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $160.00 price target on shares of Celgene in a report on Friday, September 15th. Robert W. Baird lowered Celgene from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $162.00 to $136.00 in a report on Friday, October 20th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Celgene in a report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $131.53.
Shares of Celgene (NASDAQ CELG) traded down $1.69 during trading on Friday, hitting $104.99. The stock had a trading volume of 10,572,300 shares, compared to its average volume of 5,600,000. The stock has a market capitalization of $81,350.00, a P/E ratio of 24.76, a PEG ratio of 0.69 and a beta of 1.77. Celgene has a 12-month low of $94.55 and a 12-month high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CELG. Thompson Davis & CO. Inc. increased its holdings in Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares during the period. Arcadia Investment Management Corp MI increased its holdings in Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Robecosam AG purchased a new position in Celgene during the 3rd quarter valued at about $114,000. Guidant Wealth Advisors purchased a new position in Celgene during the 3rd quarter valued at about $119,000. Finally, Capital Bank & Trust Co increased its holdings in Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.
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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.
