Analysts at Sanford C. Bernstein assumed coverage on shares of Celgene Corporation (NASDAQ:CELG) in a research report issued to clients and investors on Tuesday, October 17th, MarketBeat.com reports. The firm set an “outperform” rating and a $162.00 price target on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 59.39% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. SunTrust Banks, Inc. restated a “buy” rating and set a $150.00 price target on shares of Celgene Corporation in a research report on Friday, July 14th. Vetr lowered shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $149.76 target price for the company. in a research report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and set a $160.00 target price on shares of Celgene Corporation in a research report on Tuesday, July 11th. Bank of America Corporation reiterated a “buy” rating and set a $153.00 target price on shares of Celgene Corporation in a research report on Monday, July 10th. Finally, Credit Suisse Group set a $148.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $139.64.
Celgene Corporation (NASDAQ:CELG) traded up $1.60 on Tuesday, reaching $101.64. 7,535,956 shares of the company’s stock traded hands, compared to its average volume of 9,460,000. The firm has a market capitalization of $79,870.00, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 0.77 and a beta of 1.79. 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 Corporation has a 1 year low of $94.55 and a 1 year high of $147.17.
Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. analysts forecast that Celgene Corporation will post 6.67 earnings per share for the current year.
In other news, insider Terrie Curran sold 1,727 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the transaction, the insider now owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Casey sold 9,250 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $139.03, for a total value of $1,286,027.50. Following the transaction, the director now directly owns 9,250 shares in the company, valued at approximately $1,286,027.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,733 shares of company stock worth $5,259,359. Insiders own 0.95% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CELG. Neuberger Berman Group LLC boosted its position in Celgene Corporation by 4.0% during the first quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after purchasing an additional 71,729 shares in the last quarter. Grisanti Capital Management LLC bought a new stake in Celgene Corporation during the second quarter valued at about $3,616,000. Lincoln Capital Corp boosted its position in Celgene Corporation by 0.6% during the second quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock valued at $3,971,000 after purchasing an additional 185 shares in the last quarter. Swiss National Bank boosted its position in Celgene Corporation by 27.2% during the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock valued at $341,796,000 after purchasing an additional 588,000 shares in the last quarter. Finally, RiverPoint Capital Management LLC boosted its position in Celgene Corporation by 3.1% during the second quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after purchasing an additional 3,680 shares in the last quarter. 78.92% of the stock is currently owned by institutional investors and hedge funds.
About Celgene Corporation
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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