Celgene Corporation (CELG) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Celgene Corporation (NASDAQ:CELG) in a research note published on Tuesday, July 11th, Marketbeat.com reports. The brokerage currently has a $160.00 price target on the biopharmaceutical company’s stock. Jefferies Group also issued estimates for Celgene Corporation’s Q2 2017 earnings at $1.61 EPS, Q3 2017 earnings at $1.71 EPS, Q4 2017 earnings at $1.79 EPS, FY2017 earnings at $6.65 EPS and FY2018 earnings at $7.79 EPS.
A number of other research analysts also recently commented on the company. BTIG Research reissued a buy rating and issued a $138.00 price target on shares of Celgene Corporation in a report on Wednesday, May 24th. Leerink Swann reissued a market perform rating on shares of Celgene Corporation in a report on Monday, March 20th. Cann reissued a buy rating and issued a $148.00 price target on shares of Celgene Corporation in a report on Tuesday, April 4th. Cantor Fitzgerald set a $160.00 price target on Celgene Corporation and gave the company a buy rating in a report on Thursday, July 6th. Finally, Argus downgraded Celgene Corporation from a buy rating to a hold rating and increased their price target for the company from $123.91 to $124.46 in a report on Friday, May 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the stock. Celgene Corporation has an average rating of Buy and a consensus target price of $147.06.
Shares of Celgene Corporation (CELG) opened at 136.70 on Tuesday. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The firm’s 50-day moving average is $132.00 and its 200-day moving average is $123.32. The company has a market cap of $106.95 billion, a PE ratio of 42.34 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The company’s revenue was up 18.7% compared to the same quarter last year. On average, equities analysts forecast that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2017/08/07/celgene-corporations-celg-buy-rating-reaffirmed-at-jefferies-group-llc-updated-updated-updated.html.
In related news, Director Gilla Kaplan sold 7,500 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the sale, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the sale, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,255 shares of company stock valued at $31,377,042. 0.95% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Motco raised its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Celgene Corporation during the first quarter valued at $118,000. Carroll Financial Associates Inc. raised its position in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares during the period. Oakworth Capital Inc. raised its position in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 412 shares during the period. Finally, Acropolis Investment Management LLC bought a new position in Celgene Corporation during the second quarter valued at $144,000. Institutional investors and hedge funds own 78.39% of the company’s stock.
About Celgene Corporation
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.
Receive News & Stock Ratings for Celgene Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene Corporation and related stocks with our FREE daily email newsletter.