Celgene Corporation (CELG) Sets New 12-Month High After Analyst Upgrade
Celgene Corporation (NASDAQ:CELG) hit a new 52-week high during mid-day trading on Monday after Mizuho raised their price target on the stock from $134.00 to $158.00. Mizuho currently has a buy rating on the stock. Celgene Corporation traded as high as $142.81 and last traded at $142.84, with a volume of 2,567,705 shares trading hands. The stock had previously closed at $142.04.
CELG has been the subject of a number of other research reports. Vetr downgraded shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $146.88 price objective for the company. in a research report on Tuesday, August 29th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Celgene Corporation in a report on Monday, August 28th. BTIG Research reaffirmed a “buy” rating and issued a $138.00 target price on shares of Celgene Corporation in a report on Wednesday, May 24th. Bank of America Corporation reaffirmed a “buy” rating on shares of Celgene Corporation in a report on Wednesday, September 13th. Finally, Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $96.93 to $160.00 in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Celgene Corporation presently has a consensus rating of “Buy” and a consensus target price of $149.34.
In other Celgene Corporation 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 completion of the sale, the insider now directly owns 1,033,909 shares in the company, valued at $138,688,553.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James J. Loughlin sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $133.57, for a total transaction of $2,471,045.00. Following the completion of the sale, the director now owns 32,877 shares of the company’s stock, valued at $4,391,380.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 248,976 shares of company stock valued at $33,420,421. 0.95% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CELG. Waldron LP boosted its stake in Celgene Corporation by 48.9% in the first quarter. Waldron LP now owns 5,207 shares of the biopharmaceutical company’s stock valued at $640,000 after acquiring an additional 1,709 shares in the last quarter. BTR Capital Management Inc. acquired a new stake in Celgene Corporation in the first quarter valued at approximately $444,000. Acadian Asset Management LLC boosted its stake in Celgene Corporation by 98.0% in the first quarter. Acadian Asset Management LLC now owns 9,096 shares of the biopharmaceutical company’s stock valued at $1,131,000 after acquiring an additional 4,501 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Celgene Corporation by 209.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,541 shares of the biopharmaceutical company’s stock valued at $192,000 after acquiring an additional 1,043 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new stake in Celgene Corporation in the first quarter valued at approximately $4,203,000. Institutional investors own 79.33% of the company’s stock.
The stock has a market capitalization of $112.24 billion, a P/E ratio of 44.43 and a beta of 1.89. The firm’s 50 day moving average is $135.45 and its 200 day moving average is $127.81.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping 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 company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The firm’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that Celgene Corporation will post $7.32 EPS for the current year.
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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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