Celgene Corp. (NASDAQ:CELG) – Jefferies Group raised their Q3 2016 earnings per share estimates for Celgene Corp. in a research note issued on Wednesday. Jefferies Group analyst B. Abrahams now expects that the brokerage will post earnings per share of $1.31 for the quarter, up from their prior estimate of $1.30. Jefferies Group has a “Buy” rating and a $134.00 price target on the stock.

Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.05. The company earned $2.74 billion during the quarter, compared to analyst estimates of $2.70 billion. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share.

Several other research firms have also issued reports on CELG. Zacks Investment Research raised Celgene Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Friday, August 5th. BTIG Research raised Celgene Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.14 to $138.00 in a research report on Wednesday, August 3rd. Vetr raised Celgene Corp. from a “sell” rating to a “hold” rating and set a $111.26 price target for the company in a research report on Monday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $138.00 price target on shares of Celgene Corp. in a research report on Tuesday, August 2nd. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $120.00 price target on shares of Celgene Corp. in a research report on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $137.96.

Shares of Celgene Corp. (NASDAQ:CELG) traded down 0.73% during trading on Thursday, reaching $104.52. 1,420,189 shares of the company’s stock were exchanged. The firm has a market cap of $81.01 billion, a price-to-earnings ratio of 44.18 and a beta of 1.49. The stock has a 50-day moving average price of $107.77 and a 200 day moving average price of $105.49. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39.

In other Celgene Corp. news, Director Michael D. Casey sold 43,134 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $114.01, for a total value of $4,917,707.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael A. Friedman sold 56,116 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $103.66, for a total value of $5,816,984.56. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $5,183,000. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. RKL Wealth Management LLC increased its position in shares of Celgene Corp. by 121.2% in the first quarter. RKL Wealth Management LLC now owns 53,058 shares of the biopharmaceutical company’s stock valued at $5,311,000 after buying an additional 29,070 shares during the period. Investment Centers of America Inc. increased its position in shares of Celgene Corp. by 29.0% in the first quarter. Investment Centers of America Inc. now owns 9,117 shares of the biopharmaceutical company’s stock valued at $916,000 after buying an additional 2,050 shares during the period. Sii Investments Inc. WI increased its position in shares of Celgene Corp. by 25.0% in the first quarter. Sii Investments Inc. WI now owns 9,240 shares of the biopharmaceutical company’s stock valued at $929,000 after buying an additional 1,847 shares during the period. Factory Mutual Insurance Co. increased its position in shares of Celgene Corp. by 18.5% in the first quarter. Factory Mutual Insurance Co. now owns 391,500 shares of the biopharmaceutical company’s stock valued at $39,185,000 after buying an additional 61,000 shares during the period. Finally, Telemus Capital LLC increased its position in shares of Celgene Corp. by 91.5% in the first quarter. Telemus Capital LLC now owns 52,041 shares of the biopharmaceutical company’s stock valued at $5,209,000 after buying an additional 24,864 shares during the period. 77.75% of the stock is currently owned by institutional investors.

About Celgene Corp.

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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