Celgene (CELG) Upgraded by Vetr to Strong-Buy

Celgene (NASDAQ:CELG) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Thursday. The brokerage presently has a $116.84 target price on the biopharmaceutical company’s stock. Vetr‘s price objective would indicate a potential upside of 11.10% from the stock’s current price.

Several other research firms have also recently weighed in on CELG. Royal Bank of Canada cut their price objective on Celgene from $166.00 to $148.00 and set a “top pick” rating on the stock in a report on Friday, October 27th. Leerink Swann reiterated a “buy” rating and set a $156.00 price objective on shares of Celgene in a report on Friday, October 20th. Morgan Stanley cut their price objective on Celgene from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, October 23rd. SunTrust Banks cut their price objective on Celgene from $156.00 to $127.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Finally, William Blair reiterated an “outperform” rating on shares of Celgene in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $130.35.

Shares of Celgene (NASDAQ:CELG) traded up $0.78 on Thursday, reaching $105.17. The company’s stock had a trading volume of 7,575,881 shares, compared to its average volume of 7,520,000. 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. The company has a market capitalization of $82,800.00, a PE ratio of 29.13, a P/E/G ratio of 0.68 and a beta of 1.77.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 64.14% and a net margin of 22.38%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the business earned $1.61 earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year. equities analysts expect that Celgene will post 7.82 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CELG. Chesley Taft & Associates LLC increased its position in shares of Celgene by 0.8% during the 2nd quarter. Chesley Taft & Associates LLC now owns 181,360 shares of the biopharmaceutical company’s stock worth $23,553,000 after purchasing an additional 1,389 shares during the last quarter. Trust Co. of Oklahoma increased its position in shares of Celgene by 0.4% during the 2nd quarter. Trust Co. of Oklahoma now owns 21,778 shares of the biopharmaceutical company’s stock worth $2,828,000 after purchasing an additional 85 shares during the last quarter. Texan Capital Management increased its position in shares of Celgene by 2.2% during the 2nd quarter. Texan Capital Management now owns 10,414 shares of the biopharmaceutical company’s stock worth $1,352,000 after purchasing an additional 225 shares during the last quarter. Jacobs & Co. CA increased its position in shares of Celgene by 2.9% during the 2nd quarter. Jacobs & Co. CA now owns 25,374 shares of the biopharmaceutical company’s stock worth $3,295,000 after purchasing an additional 705 shares during the last quarter. Finally, Woodstock Corp increased its position in shares of Celgene by 0.6% during the 2nd quarter. Woodstock Corp now owns 98,755 shares of the biopharmaceutical company’s stock worth $12,825,000 after purchasing an additional 550 shares during the last quarter. 79.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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