Equities research analysts at Oppenheimer Holdings Inc. began coverage on shares of Celgene Corp. (NASDAQ:CELG) in a report issued on Tuesday. The brokerage set an “outperform” rating and a $141.00 price target on the biopharmaceutical company’s stock. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 17.14% from the company’s previous close.

Several other analysts have also weighed in on CELG. Jefferies Group reaffirmed a “buy” rating on shares of Celgene Corp. in a report on Tuesday, August 23rd. BTIG Research reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a report on Sunday, August 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a report on Tuesday, August 2nd. Zacks Investment Research raised shares of Celgene Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Friday, August 5th. Finally, Piper Jaffray Cos. set a $145.00 price objective on shares of Celgene Corp. and gave the stock a “buy” rating in a report on Monday, August 15th. Four research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Celgene Corp. presently has an average rating of “Buy” and a consensus price target of $136.62.

Analyst Recommendations for Celgene Corp. (NASDAQ:CELG)

Celgene Corp. (NASDAQ:CELG) traded up 1.8010% during midday trading on Tuesday, reaching $122.4666. The company’s stock had a trading volume of 902,205 shares. Celgene Corp. has a 52-week low of $93.05 and a 52-week high of $127.00. The firm has a 50-day moving average price of $108.88 and a 200 day moving average price of $106.73. The stock has a market capitalization of $94.94 billion, a price-to-earnings ratio of 46.5122 and a beta of 1.71.

Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.10. Celgene Corp. had a net margin of 19.71% and a return on equity of 70.48%. The firm earned $2.98 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. The company’s quarterly revenue 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 fiscal year.

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In other Celgene Corp. news, major shareholder Corp /De/ Celgene acquired 800,150 shares of the business’s stock in a transaction on Monday, October 24th. The stock was purchased at an average price of $14.00 per share, with a total value of $11,202,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Friedman sold 18,600 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $116.10, for a total transaction of $2,159,460.00. Following the completion of the sale, the director now directly owns 18,600 shares of the company’s stock, valued at approximately $2,159,460. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of CELG. Ngam Advisors L.P. increased its stake in shares of Celgene Corp. by 3.6% in the second quarter. Ngam Advisors L.P. now owns 166,196 shares of the biopharmaceutical company’s stock worth $16,392,000 after buying an additional 5,707 shares during the period. Atwood & Palmer Inc. increased its stake in shares of Celgene Corp. by 1.7% in the second quarter. Atwood & Palmer Inc. now owns 156,343 shares of the biopharmaceutical company’s stock worth $15,420,000 after buying an additional 2,543 shares during the period. Fisher Asset Management LLC increased its stake in shares of Celgene Corp. by 3.0% in the second quarter. Fisher Asset Management LLC now owns 204,128 shares of the biopharmaceutical company’s stock worth $21,109,000 after buying an additional 5,968 shares during the period. Putnam FL Investment Management Co. increased its stake in shares of Celgene Corp. by 1.4% in the second quarter. Putnam FL Investment Management Co. now owns 117,359 shares of the biopharmaceutical company’s stock worth $11,575,000 after buying an additional 1,575 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Celgene Corp. by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,488,765 shares of the biopharmaceutical company’s stock worth $245,467,000 after buying an additional 20,006 shares during the period. 76.43% of the stock is owned by hedge funds and other 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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