Bank of America Corp. reiterated their buy rating on shares of Celgene Corp. (NASDAQ:CELG) in a research note published on Friday morning. They currently have a $128.00 target price on the biopharmaceutical company’s stock.

Analyst Recommendations for Celgene Corp. (NASDAQ:CELG)

CELG has been the topic of a number of other reports. Canaccord Genuity set a $156.00 price objective on Celgene Corp. and gave the company a buy rating in a report on Monday, September 12th. Robert W. Baird reissued an outperform rating and issued a $162.00 price objective on shares of Celgene Corp. in a report on Tuesday, September 13th. BMO Capital Markets reissued an outperform rating and issued a $141.00 price objective on shares of Celgene Corp. in a report on Tuesday, September 13th. Jefferies Group reissued a buy rating and issued a $137.00 price objective on shares of Celgene Corp. in a report on Tuesday, September 13th. Finally, Cowen and Company reissued an outperform rating and issued a $150.00 price objective on shares of Celgene Corp. in a report on Monday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Celgene Corp. currently has a consensus rating of Buy and a consensus price target of $138.10.

Celgene Corp. (NASDAQ:CELG) opened at 108.42 on Friday. Celgene Corp. has a 52-week low of $93.05 and a 52-week high of $128.39. The stock has a market capitalization of $84.04 billion, a PE ratio of 45.82 and a beta of 1.31. The stock’s 50 day moving average price is $110.21 and its 200-day moving average price is $105.03.

Celgene Corp. (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.05. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The company earned $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the business posted $1.23 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, equities analysts expect that Celgene Corp. will post $5.71 EPS for the current fiscal year.

In related news, Director Michael D. Casey sold 43,134 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $114.01, for a total value of $4,917,707.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert J. Hugin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $110.00, for a total value of $11,000,000.00. Following the completion of the sale, the insider now directly owns 1,022,201 shares in the company, valued at approximately $112,442,110. The disclosure for this sale can be found here. 0.97% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Exxonmobil Investment Management Inc. TX raised its stake in Celgene Corp. by 8.1% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 190,316 shares of the biopharmaceutical company’s stock worth $19,049,000 after buying an additional 14,218 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Celgene Corp. by 14.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 178,622 shares of the biopharmaceutical company’s stock worth $17,878,000 after buying an additional 21,932 shares during the last quarter. CENTRAL TRUST Co bought a new stake in Celgene Corp. during the first quarter worth about $9,711,000. DnB Asset Management AS raised its stake in Celgene Corp. by 133.6% in the first quarter. DnB Asset Management AS now owns 94,778 shares of the biopharmaceutical company’s stock worth $9,486,000 after buying an additional 54,200 shares during the last quarter. Finally, Abner Herrman & Brock LLC raised its stake in Celgene Corp. by 35.5% in the first quarter. Abner Herrman & Brock LLC now owns 95,298 shares of the biopharmaceutical company’s stock worth $9,538,000 after buying an additional 24,952 shares during the last quarter. 77.75% of the stock is currently owned by hedge funds and other institutional investors.

Celgene Corp. Company Profile

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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.

5 Day Chart for NASDAQ:CELG

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