Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Celgene Corporation (CELG) Stock Price
Media headlines about Celgene Corporation (NASDAQ:CELG) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Celgene Corporation earned a coverage optimism score of 0.13 on Accern’s scale. Accern also assigned press coverage about the biopharmaceutical company an impact score of 45.7381947158023 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
- Celgene Corporation (CELG) Receives Average Rating of “Buy” from Analysts (americanbankingnews.com)
- Nimbus Therapeutics and Celgene Enter Long-Term Strategic … – Business Wire (press release) (businesswire.com)
- Nearly 1000 to Attend Community Hope Gala to Honor Celgene Corporation’s Executive Chairman – TAPinto.net (tapinto.net)
- Volume Boosters with Technical Valuation: Celgene Corporation (NASDAQ:CELG) – NASDAQ Times (nasdaqtimes.com)
- Nimbus Therapeutics Announces Strategic Immunology Alliance … – StreetInsider.com (streetinsider.com)
Celgene Corporation (CELG) traded up 0.30% during trading on Wednesday, hitting $146.52. 2,124,834 shares of the company’s stock traded hands. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $147.17. The company’s 50 day moving average is $138.73 and its 200-day moving average is $129.37. The stock has a market cap of $114.63 billion, a P/E ratio of 45.38 and a beta of 1.88.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. On average, analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.
A number of analysts have weighed in on the company. BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Leerink Swann reiterated an “outperform” rating and set a $160.00 price target (up from $150.00) on shares of Celgene Corporation in a report on Friday, July 28th. Argus upgraded Celgene Corporation from a “hold” rating to a “buy” rating and increased their price target for the stock from $96.93 to $160.00 in a report on Monday, July 31st. Credit Suisse Group set a $148.00 price target on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. Finally, Cann reiterated a “buy” rating on shares of Celgene Corporation in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $150.54.
In related news, Director Ernest Mario sold 18,506 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the transaction, the director now owns 69,424 shares in the company, valued at $9,061,220.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,233 shares of company stock worth $6,268,259. 0.95% of the stock is owned by insiders.
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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