Celgene Corporation (CELG) Given “Buy” Rating at Cowen and Company
Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a research report issued to clients and investors on Tuesday. They presently have a $150.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s price target indicates a potential upside of 6.44% from the stock’s current price.
CELG has been the subject of several other research reports. Vetr downgraded shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $146.88 price target for the company. in a research report on Tuesday, August 29th. Cantor Fitzgerald restated a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. BTIG Research restated a “buy” rating and set a $138.00 price objective on shares of Celgene Corporation in a research note on Wednesday, May 24th. Argus upgraded Celgene Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $96.93 to $160.00 in a research note on Monday, July 31st. Finally, Jefferies Group LLC restated a “buy” rating and set a $160.00 price objective on shares of Celgene Corporation in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $147.31.
Shares of Celgene Corporation (NASDAQ:CELG) traded up 0.79% during mid-day trading on Tuesday, hitting $142.04. 2,232,888 shares of the stock were exchanged. The stock’s 50 day moving average price is $134.21 and its 200-day moving average price is $126.84. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $142.64. The stock has a market capitalization of $111.12 billion, a P/E ratio of 43.99 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the firm posted $1.44 EPS. Celgene Corporation’s revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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In other news, Director Michael D. Casey sold 9,250 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the transaction, the insider now directly owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders have sold 263,011 shares of company stock valued at $35,078,473 in the last three months. 0.95% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CELG. Janus Henderson Group PLC grew its holdings in shares of Celgene Corporation by 4,290.5% during the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after purchasing an additional 8,217,433 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Celgene Corporation by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Oaktop Capital Management II L.P. purchased a new position in shares of Celgene Corporation during the second quarter worth about $271,605,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Celgene Corporation by 1,489.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after purchasing an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Celgene Corporation by 3.1% during the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after purchasing an additional 1,610,056 shares in the last quarter. 79.43% of the stock is owned by institutional investors.
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.
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