Celgene Corporation (CELG) Price Target Raised to $155.00 at BMO Capital Markets
Celgene Corporation (NASDAQ:CELG) had its price objective raised by BMO Capital Markets from $148.00 to $155.00 in a research note issued to investors on Friday. They currently have an outperform rating on the biopharmaceutical company’s stock.
Several other equities analysts also recently commented on the stock. Morgan Stanley downgraded shares of Celgene Corporation from an equal weight rating to an underweight rating and set a $120.00 price objective on the stock. in a report on Thursday, October 5th. BTIG Research reiterated a hold rating on shares of Celgene Corporation in a report on Sunday, October 22nd. Cantor Fitzgerald reiterated a hold rating and issued a $112.00 price objective on shares of Celgene Corporation in a report on Monday, October 30th. Vetr upgraded shares of Celgene Corporation from a buy rating to a strong-buy rating and set a $144.39 price objective on the stock in a report on Monday, October 23rd. Finally, Citigroup Inc. downgraded shares of Celgene Corporation from a buy rating to a neutral rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $139.87.
Shares of Celgene Corporation (CELG) traded up $0.75 on Friday, reaching $104.10. 5,806,616 shares of the company were exchanged, compared to its average volume of 4,722,144. The firm has a market capitalization of $81,370.00, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 0.76 and a beta of 1.79. Celgene Corporation has a fifty-two week low of $94.55 and a fifty-two week high of $147.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65.
Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. analysts predict that Celgene Corporation will post 6.67 earnings per share for the current year.
In other news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the completion of the transaction, the director now owns 85,551 shares of the company’s stock, valued at $12,110,599.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the transaction, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The disclosure for this sale can be found here. Insiders sold 20,227 shares of company stock valued at $2,843,956 in the last ninety days. 0.95% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CELG. Arcadia Investment Management Corp MI increased its position in Celgene Corporation by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Thompson Davis & CO. Inc. increased its position in Celgene Corporation by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares during the period. Robecosam AG acquired a new stake in Celgene Corporation during the 3rd quarter valued at approximately $114,000. Capital Bank & Trust Co increased its position in Celgene Corporation by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares during the period. Finally, Guidant Wealth Advisors acquired a new stake in Celgene Corporation during the 3rd quarter valued at approximately $119,000. 79.16% 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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