Celgene Corp. (CELG) Given Buy Rating at Jefferies Group
Jefferies Group reaffirmed their buy rating on shares of Celgene Corp. (NASDAQ:CELG) in a report released on Thursday. They currently have a $134.00 price target on the biopharmaceutical company’s stock.
Several other brokerages also recently issued reports on CELG. Canaccord Genuity set a $156.00 price target on shares of Celgene Corp. and gave the company a buy rating in a report on Sunday, September 18th. Morgan Stanley reaffirmed a hold rating on shares of Celgene Corp. in a report on Thursday, June 30th. Cowen and Company reaffirmed a buy rating and issued a $150.00 price target on shares of Celgene Corp. in a report on Thursday, July 28th. Leerink Swann reaffirmed a market perform rating and issued a $135.00 price target on shares of Celgene Corp. in a report on Monday, September 12th. Finally, Vetr downgraded shares of Celgene Corp. from a hold rating to a sell rating and set a $104.37 price target on the stock. in a report on Monday, July 25th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $137.44.
Shares of Celgene Corp. (NASDAQ:CELG) traded down 0.25% during midday trading on Thursday, reaching $103.77. The company’s stock had a trading volume of 951,825 shares. The company has a 50 day moving average price of $107.52 and a 200-day moving average price of $105.48. The stock has a market capitalization of $80.43 billion, a PE ratio of 43.86 and a beta of 1.49. Celgene Corp. has a 52 week low of $93.05 and a 52 week high of $128.39.
Celgene Corp. (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate 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 was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, equities research analysts expect that Celgene Corp. will post $5.71 EPS for the current year.
In other news, Director Gilla Kaplan sold 9,710 shares of Celgene Corp. stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $106.44, for a total value of $1,033,532.40. Following the transaction, the director now owns 72,142 shares of the company’s stock, valued at approximately $7,678,794.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael D. Casey sold 43,134 shares of Celgene Corp. stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $114.01, for a total transaction of $4,917,707.34. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Addenda Capital Inc. purchased a new position in shares of Celgene Corp. during the first quarter valued at approximately $1,387,000. Badgley Phelps & Bell Inc. boosted its position in shares of Celgene Corp. by 5.2% in the first quarter. Badgley Phelps & Bell Inc. now owns 88,183 shares of the biopharmaceutical company’s stock valued at $8,826,000 after buying an additional 4,339 shares during the last quarter. BTC Capital Management Inc. boosted its position in shares of Celgene Corp. by 19.6% in the first quarter. BTC Capital Management Inc. now owns 35,362 shares of the biopharmaceutical company’s stock valued at $3,537,000 after buying an additional 5,794 shares during the last quarter. Virginia Retirement System purchased a new position in shares of Celgene Corp. during the first quarter valued at approximately $29,731,000. Finally, Nisa Investment Advisors L.L.C. boosted its position in shares of Celgene Corp. by 7.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 228,281 shares of the biopharmaceutical company’s stock valued at $22,849,000 after buying an additional 15,900 shares during the last quarter. 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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