Jefferies Group LLC restated their buy rating on shares of Celgene Corporation (NASDAQ:CELG) in a research report sent to investors on Friday. The brokerage currently has a $160.00 price target on the biopharmaceutical company’s stock.
CELG has been the subject of several other reports. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $175.00 target price (up from $148.00) on shares of Celgene Corporation in a research note on Monday, July 31st. Cantor Fitzgerald set a $160.00 target price on Celgene Corporation and gave the stock a buy rating in a research note on Thursday, July 27th. BMO Capital Markets reaffirmed an outperform rating and set a $160.00 target price (up from $152.00) on shares of Celgene Corporation in a research note on Friday, July 28th. Canaccord Genuity set a $156.00 target price on Celgene Corporation and gave the stock a buy rating in a research note on Tuesday, June 6th. Finally, BidaskClub raised Celgene Corporation from a sell rating to a hold rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $149.34.
Shares of Celgene Corporation (CELG) opened at 142.84 on Friday. The stock has a market capitalization of $111.75 billion, a price-to-earnings ratio of 44.24 and a beta of 1.89. The company has a 50-day moving average of $135.22 and a 200 day moving average of $127.66. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $142.89.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the company posted $1.44 earnings per share. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. Analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.
In related news, Director Michael A. Friedman sold 10,000 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $132.50, for a total transaction of $1,325,000.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $662,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the transaction, the director now directly owns 85,551 shares in the company, valued at approximately $12,110,599.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,226 shares of company stock worth $34,651,134. 0.95% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CELG. Thompson Davis & CO. Inc. lifted its stake in Celgene Corporation by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Celgene Corporation during the 1st quarter worth about $118,000. Motco raised its position in Celgene Corporation by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 159 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Celgene Corporation in the 2nd quarter valued at about $129,000. Finally, Oakworth Capital Inc. raised its position in Celgene Corporation by 60.9% in the 1st quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after purchasing an additional 412 shares in the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.
Celgene Corporation 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.
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