Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reiterated by analysts at Cann in a research note issued to investors on Wednesday. They currently have a $166.00 target price on the biopharmaceutical company’s stock. Cann’s price objective would suggest a potential upside of 57.85% from the stock’s current price.
The analysts wrote, “We conducted a physician survey to evaluate the current treatment preferences and satisfaction with available therapies, along with expectations for therapies in clinical development. Our report (published 11/21/17), Multiple Sclerosis Survey: Unmet Need Persists Despite Several Approved Treatment Options, concluded that there is a meaningful unmet need in MS treatment and a high level of interest in Ozanimod if FDA-approved. We conclude that approximately 80% of the neurologists surveyed are unsatisfied with the therapies available to them. The survey showed that 40.4% of patients are being treated with oral therapy. The surveyed neurologists replied that they would, on average, put 23.8% of their patients on a newly approved therapy they had selected from the survey.””
A number of other research firms have also recently issued reports on CELG. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $175.00 price target on shares of Celgene Corporation in a report on Wednesday, August 9th. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target on the stock in a report on Wednesday, August 16th. Cantor Fitzgerald restated a “buy” rating and set a $162.00 price target on shares of Celgene Corporation in a report on Tuesday, September 26th. Jefferies Group LLC restated a “buy” rating and set a $160.00 price target on shares of Celgene Corporation in a report on Monday, July 31st. Finally, TheStreet cut Celgene Corporation from a “b-” rating to a “c+” rating in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $139.57.
Shares of Celgene Corporation (NASDAQ:CELG) opened at $105.16 on Wednesday. Celgene Corporation has a 52-week low of $94.55 and a 52-week high of $147.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. The stock has a market cap of $82,794.26, a PE ratio of 16.43, a PEG ratio of 0.81 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 Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. sell-side analysts forecast that Celgene Corporation will post 6.67 EPS for the current year.
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In other news, insider Terrie Curran sold 1,727 shares of the firm’s 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 completion of the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total value of $1,286,027.50. Following the sale, the director now directly owns 9,250 shares of the company’s stock, valued at $1,286,027.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,227 shares of company stock valued at $2,843,956. Insiders own 0.95% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its stake in Celgene Corporation by 5.9% in 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 during the period. Arcadia Investment Management Corp MI boosted its stake in Celgene Corporation by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the period. Robecosam AG bought a new position in Celgene Corporation in the 3rd quarter worth about $114,000. Guidant Wealth Advisors bought a new position in Celgene Corporation in the 3rd quarter worth about $119,000. Finally, Capital Bank & Trust Co boosted its stake in Celgene Corporation by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the period. 79.48% of the stock is 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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