Celgene Rating Reiterated by Zacks (CELG)
Zacks’ analyst wrote, “Celgene’s fourth quarter 2012 adjusted earnings of $1.18 per share beat the year-ago earnings by 26.9%. Higher revenues drove earnings in the reported quarter. Total revenue climbed 12.7% to $1.45 billion in the fourth quarter of 2012. Revenues were boosted by the impressive performance of Celgene’s cancer drugs Revlimid, Abraxane and Vidaza. Celgene expects 2013 adjusted earnings in the range of $5.50-$5.60 per share. Even though pleased with the overall oncology portfolio at Celgene, we remain concerned about the decline in the sales of cancer drug, Thalomid. We are also concerned about the loss of exclusivity of Vidaza in the US. In view of these challenges, we see limited upside potential from current levels and retain our Neutral stance on the stock.”
Shares of Celgene opened at 105.62 on Thursday. Celgene has a 52 week low of $58.53 and a 52 week high of $105.82. The stock’s 50-day moving average is currently $99.50. The company has a market cap of $44.228 billion and a P/E ratio of 32.01.
CELG has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated an outperform rating on shares of Celgene in a research note to investors on Thursday. They now have a $115.00 price target on the stock. Separately, analysts at JMP Securities reiterated a market outperform rating on shares of Celgene in a research note to investors on Wednesday, February 27th. They now have a $130.00 price target on the stock. Finally, analysts at JPMorgan Chase reiterated an overweight rating on shares of Celgene in a research note to investors on Wednesday, February 20th. They now have a $115.00 price target on the stock.
Twenty-two investment analysts have rated the stock with a buy rating, three have assigned an overweight rating, and seven have given a hold rating to the stock. The company currently has an average rating of overweight and an average price target of $111.26.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.