Weekly Research Analysts’ Ratings Updates for Celgene (CELG)

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Several brokerages have updated their recommendations and price targets on shares of Celgene (NASDAQ: CELG) in the last few weeks:

  • 1/4/2019 – Celgene was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 1/4/2019 – Celgene was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 1/4/2019 – Celgene was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $92.00 price target on the stock.
  • 1/3/2019 – Celgene was upgraded by analysts at Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating. They now have a $88.00 price target on the stock, up previously from $71.00.
  • 1/3/2019 – Celgene had its price target lowered by analysts at Wells Fargo & Co from $90.00 to $84.00. They now have a “market perform” rating on the stock.
  • 1/3/2019 – Celgene was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating.
  • 1/3/2019 – Celgene was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating.
  • 1/3/2019 – Celgene had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $100.00 price target on the stock. They wrote, “We think Celgene remains a show-me story to investors, which has the stock trading at a discount to peers. We are cautiously optimistic with management changes that execution is improving. We think that the base business remains strong for 2019, and we think filing key late-stage programs over 2019 will help get the stock back on track. The company has many late-stage programs like liso-cel, luspatercept, ozanimod in MS. bb2121 that could launch in late 19/early 2020. Valuation Summary We have a $100 PT on the shares.””
  • 12/31/2018 – Celgene was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Celgene’s key growth driver, Revlimid, continues to drive revenues at the company. Celgene is also currently working on label expansion of drugs like Pomalyst/Imnovid, Abraxane and Otezla among others, which is encouraging. Meanwhile, the company is focussed on the next cycle of innovation with five late-stage candidates — ozanimod, fedratinib, luspatercept, liso-cel and bb2121 — all of which are expected to be launched by the end of 2020. Celgene acquired Juno Therapeutics and added JCAR017 to its lymphoma pipeline to revive its portfolio. Luspatercept looks promising as well with positive data from two late-stage trials. However, shares have underperformed the industry in the year so far. The company’s dependence on Revlimid sales is a concern as well. Celgene suffered a setback when it received a Refusal to File letter from the FDA, regarding the NDA for ozanimod in relapsing multiple sclerosis.”
  • 12/27/2018 – Celgene was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 12/20/2018 – Celgene is now covered by analysts at BTIG Research. They set a “neutral” rating on the stock.
  • 12/19/2018 – Celgene had its price target lowered by analysts at Morgan Stanley from $93.00 to $88.00. They now have an “equal weight” rating on the stock.
  • 12/17/2018 – Celgene had its price target lowered by analysts at Citigroup Inc from $100.00 to $77.00. They now have a “neutral” rating on the stock.
  • 12/5/2018 – Celgene was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 12/3/2018 – Celgene had its “buy” rating reaffirmed by analysts at . They wrote, “ASH data for AUGMENT, TRANSCEND, BELIEVE and MEDALIST, were very impressive. The TRANSCEND data in relapsed/refractory CLL demonstrated very high ORRs with good durability. We currently have no impact by 2022 for JCAR17, but believe it has important potential post-2022. The positive AUGMENT data are very encouraging in this difficult to treat setting, and could provide a new chemotherapy- free option for these patients. Results from the BELIEVE study support luspatercept as a potential new treatment for adult patients with β-thalassemia, and results from MEDALIST support luspatercept in the treatment of patients with lower-risk MDS. These results for luspatercept in beta-thalassemia and in low-risk MDS could provide potential upside to our outlook, which remains unchanged at this time.””

NASDAQ CELG opened at $87.40 on Monday. The firm has a market cap of $61.19 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 0.46 and a beta of 1.44. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99. Celgene Co. has a twelve month low of $58.59 and a twelve month high of $107.29.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.27. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. As a group, equities analysts expect that Celgene Co. will post 7.45 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. Atlantic Trust LLC acquired a new position in Celgene during the 2nd quarter worth about $101,000. Csenge Advisory Group acquired a new position in Celgene during the 3rd quarter worth about $90,000. Global Trust Asset Management LLC lifted its stake in Celgene by 217.9% during the 4th quarter. Global Trust Asset Management LLC now owns 1,459 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,000 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Celgene during the 3rd quarter worth about $132,000. Finally, City Holding Co. acquired a new position in Celgene during the 2nd quarter worth about $143,000. Institutional investors and hedge funds own 72.80% of the company’s stock.

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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