Wells Fargo & Company lowered shares of Celgene Corporation (NASDAQ:CELG) from an outperform rating to a market perform rating in a research report report published on Thursday, October 26th, MarketBeat Ratings reports.
CELG has been the subject of a number of other research reports. Morgan Stanley cut shares of Celgene Corporation from an equal weight rating to an underweight rating and set a $120.00 target price for the company. in a research report on Thursday, October 5th. Royal Bank Of Canada reissued a buy rating and set a $173.00 target price on shares of Celgene Corporation in a research report on Thursday, October 5th. Robert W. Baird reissued a buy rating and set a $162.00 target price on shares of Celgene Corporation in a research report on Thursday, September 21st. Cantor Fitzgerald restated a buy rating and set a $162.00 price target on shares of Celgene Corporation in a research note on Tuesday, September 26th. Finally, Bank of America Corporation restated a buy rating on shares of Celgene Corporation in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $139.64.
Celgene Corporation (NASDAQ CELG) traded down $0.12 during trading on Thursday, hitting $102.34. 6,473,500 shares of the stock were exchanged, compared to its average volume of 4,674,886. Celgene Corporation has a 12-month low of $94.55 and a 12-month high of $147.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. The company has a market cap of $80,570.00, a P/E ratio of 15.99, a PEG ratio of 0.79 and a beta of 1.79.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts forecast that Celgene Corporation will post 6.67 earnings per share for the current year.
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In related news, insider Terrie Curran sold 1,727 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the sale, the director now directly owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,227 shares of company stock worth $2,843,956. 0.95% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. boosted its stake 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 valued at $100,000 after buying an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of Celgene Corporation by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the last quarter. Robecosam AG purchased a new position in shares of Celgene Corporation during the 3rd quarter valued at approximately $114,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Celgene Corporation during the 1st quarter valued at approximately $118,000. Finally, Guidant Wealth Advisors purchased a new position in shares of Celgene Corporation during the 3rd quarter valued at approximately $119,000. Institutional investors own 79.16% of the company’s stock.
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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