JPMorgan Chase & Co. assumed coverage on shares of Celgene (NASDAQ:CELG) in a research report released on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $110.00 price target on the biopharmaceutical company’s stock.
A number of other equities research analysts have also recently weighed in on CELG. BidaskClub cut Celgene from a sell rating to a strong sell rating in a research note on Thursday, March 15th. Leerink Swann restated a buy rating and set a $120.00 price target on shares of Celgene in a research note on Friday, December 22nd. BTIG Research restated a hold rating on shares of Celgene in a research note on Tuesday, January 23rd. UBS set a $106.00 price target on Celgene and gave the stock a buy rating in a research note on Wednesday, February 28th. Finally, Credit Suisse Group set a $123.00 price target on Celgene and gave the stock a buy rating in a research note on Thursday, December 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $127.78.
Shares of CELG stock opened at $84.98 on Wednesday. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. Celgene has a 52 week low of $84.95 and a 52 week high of $147.17. The firm has a market capitalization of $65,371.59, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 0.61 and a beta of 1.58.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. equities research analysts expect that Celgene will post 7.66 EPS for the current year.
Celgene announced that its board has authorized a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
In other Celgene news, Director James J. Loughlin sold 9,250 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ernest Mario sold 13,370 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock worth $3,879,509 in the last three months. 0.95% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Virtue Capital Management LLC purchased a new stake in shares of Celgene in the fourth quarter valued at $101,000. Arcadia Investment Management Corp MI lifted its position in shares of Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares in the last quarter. Robecosam AG purchased a new stake in shares of Celgene in the third quarter valued at $114,000. Guidant Wealth Advisors purchased a new stake in shares of Celgene in the third quarter valued at $119,000. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Celgene in the fourth quarter valued at $120,000. 78.60% of the stock is currently owned by institutional investors.
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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