Cann Begins Coverage on Celgene Corp. (CELG)
Equities research analysts at Cann initiated coverage on shares of Celgene Corp. (NASDAQ:CELG) in a report released on Monday. The firm set an “outperform” rating and a $141.00 price target on the biopharmaceutical company’s stock. Cann’s price objective indicates a potential upside of 17.14% from the stock’s previous close.
CELG has been the topic of several other research reports. Canaccord Genuity set a $156.00 target price on Celgene Corp. and gave the stock a “buy” rating in a report on Sunday, September 18th. Vetr cut Celgene Corp. from a “buy” rating to a “hold” rating and set a $125.81 target price on the stock. in a report on Monday. Leerink Swann restated a “market perform” rating and set a $135.00 target price on shares of Celgene Corp. in a report on Monday, September 12th. Morgan Stanley restated a “hold” rating and set a $120.00 target price on shares of Celgene Corp. in a report on Wednesday, August 3rd. Finally, Cowen and Company restated a “buy” rating and set a $150.00 target price on shares of Celgene Corp. in a report on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $136.34.
Celgene Corp. (NASDAQ:CELG) traded down 0.63% during mid-day trading on Monday, reaching $120.30. The company’s stock had a trading volume of 3,297,789 shares. The stock’s 50 day moving average is $108.41 and its 200 day moving average is $106.51. The company has a market cap of $93.26 billion, a price-to-earnings ratio of 45.69 and a beta of 1.71. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $127.00.
Celgene Corp. (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.10. Celgene Corp. had a return on equity of 70.48% and a net margin of 19.71%. The firm earned $2.98 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts predict that Celgene Corp. will post $5.92 EPS for the current year.
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In related news, Director Richard W. Barker sold 20,000 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $110.82, for a total value of $2,216,400.00. Following the completion of the sale, the director now directly owns 31,332 shares in the company, valued at approximately $3,472,212.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 9,710 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 72,142 shares of the company’s stock, valued at $7,678,794.48. The disclosure for this sale can be found here. 0.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Celgene Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 47,833,717 shares of the biopharmaceutical company’s stock valued at $4,717,840,000 after buying an additional 395,600 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Celgene Corp. by 2.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 20,712,785 shares of the biopharmaceutical company’s stock valued at $2,165,107,000 after buying an additional 471,143 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Celgene Corp. by 14.1% in the third quarter. Jennison Associates LLC now owns 15,921,002 shares of the biopharmaceutical company’s stock valued at $1,664,222,000 after buying an additional 1,967,645 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Celgene Corp. by 3.4% in the third quarter. BlackRock Fund Advisors now owns 15,575,165 shares of the biopharmaceutical company’s stock valued at $1,628,072,000 after buying an additional 508,334 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Celgene Corp. by 2.5% in the third quarter. Northern Trust Corp now owns 10,714,220 shares of the biopharmaceutical company’s stock valued at $1,119,957,000 after buying an additional 261,176 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
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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