Analysts Set Expectations for Celgene Corporation’s FY2016 Earnings (CELG)

Celgene Corporation (NASDAQ:CELG) – Equities research analysts at William Blair lifted their FY2016 earnings per share (EPS) estimates for Celgene Corporation in a note issued to investors on Monday. William Blair analyst J. Sonnier now anticipates that the brokerage will post earnings of $5.28 per share for the year, up from their previous forecast of $5.24. William Blair also issued estimates for Celgene Corporation’s Q4 2016 earnings at $1.43 EPS.

Other equities research analysts also recently issued reports about the company. Jefferies Group reiterated a “buy” rating and issued a $137.00 target price on shares of Celgene Corporation in a research report on Tuesday, September 13th. Canaccord Genuity set a $156.00 target price on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, October 15th. Zacks Investment Research upgraded Celgene Corporation from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Friday, October 7th. Citigroup Inc. boosted their target price on Celgene Corporation from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, Vetr downgraded Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $122.94 target price on the stock. in a research report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Celgene Corporation currently has an average rating of “Buy” and an average price target of $137.31.

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Shares of Celgene Corporation (NASDAQ:CELG) traded down 3.08% during midday trading on Wednesday, hitting $116.28. The stock had a trading volume of 3,439,930 shares. The company has a market cap of $90.14 billion, a PE ratio of 44.16 and a beta of 1.74. Celgene Corporation has a 52-week low of $93.05 and a 52-week high of $127.00. The company’s 50 day moving average is $117.82 and its 200 day moving average is $109.36.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.84 billion. Celgene Corporation had a return on equity of 70.48% and a net margin of 19.71%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS.

Several hedge funds and other institutional investors have recently modified their holdings of CELG. Hall Laurie J Trustee bought a new position in shares of Celgene Corporation during the fourth quarter valued at $1,941,000. NN Investment Partners Holdings N.V. boosted its position in shares of Celgene Corporation by 25.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 626,432 shares of the biopharmaceutical company’s stock valued at $72,510,000 after buying an additional 125,340 shares in the last quarter. Lederer & Associates Investment Counsel CA bought a new position in shares of Celgene Corporation during the fourth quarter valued at $1,664,000. Orbis Allan Gray Ltd boosted its position in shares of Celgene Corporation by 12.4% in the third quarter. Orbis Allan Gray Ltd now owns 2,064,150 shares of the biopharmaceutical company’s stock valued at $215,766,000 after buying an additional 227,594 shares in the last quarter. Finally, Charter Research & Investment Group Inc. boosted its position in shares of Celgene Corporation by 0.5% in the third quarter. Charter Research & Investment Group Inc. now owns 19,934 shares of the biopharmaceutical company’s stock valued at $2,083,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 76.32% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Analysts Set Expectations for Celgene Corporation’s FY2016 Earnings (CELG)” was first posted by BBNS and is the sole property of of BBNS. If you are accessing this story on another domain, it was copied illegally and republished in violation of international copyright & trademark law. The correct version of this story can be viewed at https://baseballnewssource.com/markets/analysts-set-expectations-for-celgene-corporations-fy2016-earnings-celg/344969.html.

In other news, Director Michael A. Friedman sold 18,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $116.10, for a total transaction of $2,159,460.00. Following the transaction, the director now directly owns 18,600 shares in the company, valued at approximately $2,159,460. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Corp /De/ Celgene bought 800,150 shares of the stock in a transaction dated Monday, October 24th. The shares were bought at an average price of $14.00 per share, for a total transaction of $11,202,100.00. The disclosure for this purchase can be found here. 0.97% of the stock is owned by corporate insiders.

Celgene Corporation Company Profile

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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