Investors Buy Shares of Celgene (CELG) on Weakness

Investors purchased shares of Celgene Co. (NASDAQ:CELG) on weakness during trading hours on Thursday. $154.03 million flowed into the stock on the tick-up and $116.89 million flowed out of the stock on the tick-down, for a money net flow of $37.14 million into the stock. Of all companies tracked, Celgene had the 7th highest net in-flow for the day. Celgene traded down ($0.88) for the day and closed at $104.58

Several equities analysts have recently issued reports on CELG shares. Royal Bank of Canada decreased their price target on shares of Celgene from $166.00 to $148.00 and set a “top pick” rating for the company in a report on Friday, October 27th. Leerink Swann reaffirmed a “buy” rating and issued a $156.00 target price on shares of Celgene in a research note on Friday, October 20th. Morgan Stanley reduced their target price on shares of Celgene from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, October 23rd. SunTrust Banks reduced their target price on shares of Celgene from $156.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Celgene in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $131.18.

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 $83,460.00, a PE ratio of 25.00, a P/E/G ratio of 0.67 and a beta of 1.77.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. equities research analysts expect that Celgene Co. will post 6.69 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CELG. Capital Counsel LLC NY raised its holdings in shares of Celgene by 0.4% in the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 6 shares during the period. Fort Pitt Capital Group LLC raised its holdings in shares of Celgene by 0.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock valued at $250,000 after purchasing an additional 11 shares during the period. Savant Capital LLC raised its holdings in shares of Celgene by 0.9% in the 2nd quarter. Savant Capital LLC now owns 2,350 shares of the biopharmaceutical company’s stock valued at $305,000 after purchasing an additional 20 shares during the period. TCI Wealth Advisors Inc. raised its holdings in shares of Celgene by 0.9% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 26 shares during the period. Finally, Granite Investment Advisors LLC raised its holdings in shares of Celgene by 1.1% in the 2nd quarter. Granite Investment Advisors LLC now owns 2,579 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 29 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

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About Celgene

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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