Celgene Corporation’s (CELG) “Buy” Rating Reiterated at Cantor Fitzgerald
Other analysts have also recently issued research reports about the stock. BTIG Research reiterated a buy rating and issued a $138.00 price target on shares of Celgene Corporation in a research note on Wednesday, May 24th. J P Morgan Chase & Co reiterated a buy rating on shares of Celgene Corporation in a research note on Wednesday, May 24th. Canaccord Genuity set a $156.00 price target on shares of Celgene Corporation and gave the company a buy rating in a research note on Monday, May 22nd. Credit Suisse Group set a $148.00 price target on shares of Celgene Corporation and gave the company a buy rating in a research note on Monday, May 22nd. Finally, Jefferies Group LLC set a $154.00 price target on shares of Celgene Corporation and gave the company a buy rating in a research note on Saturday, May 13th. One equities research 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 company. The company has a consensus rating of Buy and an average target price of $147.38.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 134.34 on Monday. The firm has a market capitalization of $105.10 billion, a P/E ratio of 41.60 and a beta of 1.89. Celgene Corporation has a one year low of $96.93 and a one year high of $139.00. The company has a 50-day moving average price of $133.39 and a 200 day moving average price of $125.39.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 earnings per share. Analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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In other news, insider Robert J. Hugin sold 175,970 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the sale, the insider now directly owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the sale, the insider now owns 4,004 shares in the company, valued at $481,200.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,761 shares of company stock worth $33,792,445. 0.95% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. increased its stake in Celgene Corporation by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 43 shares during the last quarter. Motco increased its stake in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation during the first quarter worth $118,000. Penserra Capital Management LLC bought a new stake in Celgene Corporation during the second quarter worth $129,000. Finally, Oakworth Capital Inc. increased its stake in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.
Celgene Corporation Company Profile
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.
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