Analysts at Sanford C. Bernstein started coverage on shares of Celgene Corporation (NASDAQ:CELG) in a report issued on Tuesday. The firm set an “outperform” rating and a $162.00 price target on the biopharmaceutical company’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 18.10% from the company’s previous close.

Several other equities analysts have also issued reports on CELG. Cantor Fitzgerald set a $162.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a report on Monday. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $175.00 target price on shares of Celgene Corporation in a report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and set a $160.00 target price on shares of Celgene Corporation in a report on Monday. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price for the company in a report on Wednesday, August 16th. Finally, BMO Capital Markets lifted their target price on shares of Celgene Corporation from $160.00 to $167.00 and gave the company a “positive” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Celgene Corporation has a consensus rating of “Buy” and a consensus target price of $151.53.

Shares of Celgene Corporation (NASDAQ:CELG) opened at 137.17 on Tuesday. The company has a market capitalization of $107.31 billion, a price-to-earnings ratio of 42.48 and a beta of 1.88. The firm’s 50-day moving average price is $141.25 and its 200-day moving average price is $130.39. Celgene Corporation has a one year low of $96.93 and a one year high of $147.17.

Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the business earned $1.44 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current year.

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In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now owns 76,301 shares in the company, valued at approximately $10,264,010.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now owns 69,424 shares in the company, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,233 shares of company stock worth $6,268,259. Corporate insiders own 0.95% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Capital Counsel LLC NY lifted its stake in Celgene Corporation by 0.4% in the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 6 shares in the last quarter. Fort Pitt Capital Group LLC lifted its stake in Celgene Corporation by 0.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 11 shares in the last quarter. Sowell Financial Services LLC lifted its stake in Celgene Corporation by 0.5% in the 1st quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 13 shares in the last quarter. South Texas Money Management Ltd. lifted its stake in Celgene Corporation by 0.6% in the 1st quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 15 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its stake in Celgene Corporation by 0.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock worth $253,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.24% 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.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

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