Celgene Rating Reiterated by TheStreet (CELG)
Celgene (NASDAQ: CELG)‘s stock had its “buy” rating reaffirmed by research analysts at TheStreet in a report released on Friday.
The analysts wrote, “Celgene Corporation (CELG) has been reiterated by TheStreet Ratings as a buy with a ratings score of A . The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
Celgene traded up 0.48% on Friday, hitting $110.71. Celgene has a 52-week low of $58.53 and a 52-week high of $110.80. The stock’s 50-day moving average is currently $100.7. The company has a market cap of $46.359 billion and a price-to-earnings ratio of 33.39.
Celgene last posted its quarterly earnings results on Thursday, January 24th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $1.05 earnings per share. Celgene’s revenue was up 14.0% compared to the same quarter last year. Celgene has set its FY13 guidance at $5.50-5.60 EPS. On average, analysts predict that Celgene will post $5.67 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Lazard Capital Markets raised their price target on shares of Celgene from $123.00 to $128.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Celgene in a research note to investors on Monday. They now have a $113.00 price target on the stock. Finally, analysts at Cantor Fitzgerald raised their price target on shares of Celgene from $115.00 to $121.00 in a research note to investors on Monday. They now have a “buy” rating on the stock.
Twenty-two analysts have rated the stock with a buy rating, three have issued an overweight rating, and seven have assigned a hold rating to the stock. Celgene presently has a consensus rating of “overweight” and an average target price of $113.01.
Celgene Corporation is a global biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
To view TheStreet’s full report, visit www.thestreetratings.com
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