Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reissued by analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $160.00 price objective on the biopharmaceutical company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 12.64% from the company’s current price.
A number of other brokerages have also weighed in on CELG. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued 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 shares of 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 issued 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 shares of Celgene Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Finally, BidaskClub raised shares of Celgene Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $149.34.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 142.04 on Friday. The company’s 50 day moving average price is $134.97 and its 200 day moving average price is $127.46. The stock has a market capitalization of $111.12 billion, a price-to-earnings ratio of 43.99 and a beta of 1.89. Celgene Corporation has a one year low of $96.93 and a one year high of $142.69.
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 consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the business earned $1.44 EPS. The firm’s revenue was up 18.7% on a year-over-year basis. On average, analysts expect that Celgene Corporation will post $7.33 earnings per share for the current fiscal year.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert J. Hugin sold 175,970 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the transaction, the insider now owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,476 shares of company stock worth $35,812,841. Company insiders own 0.95% of the company’s stock.
Large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. grew its position in shares of 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 purchasing an additional 43 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Celgene Corporation during the 1st quarter worth approximately $118,000. Motco grew its position in shares of Celgene Corporation by 19.3% during the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 159 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Celgene Corporation during the 2nd quarter worth approximately $129,000. Finally, Oakworth Capital Inc. grew its position in shares of Celgene Corporation by 60.9% during the 1st quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.
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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