Celgene Corporation (NASDAQ:CELG) was upgraded by equities research analysts at Leerink Swann from a “market perform” rating to an “outperform” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a $150.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $94.42. Leerink Swann’s target price would indicate a potential upside of 19.85% from the stock’s current price. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald set a $159.00 price target on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, February 18th. Credit Suisse Group set a $148.00 price target on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, February 18th. J P Morgan Chase & Co reissued a “buy” rating on shares of Celgene Corporation in a research report on Saturday, February 18th. Oppenheimer Holdings, Inc. set a $148.00 price target on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, February 25th. Finally, Canaccord Genuity set a $156.00 price target on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, February 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $139.49.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

Celgene Corporation (CELG) opened at 125.16 on Friday. The company has a 50-day moving average price of $119.14 and a 200-day moving average price of $119.67. The company has a market capitalization of $97.73 billion, a price-to-earnings ratio of 47.00 and a beta of 1.82. Celgene Corporation has a one year low of $94.42 and a one year high of $127.64.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.21. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Celgene Corporation had a return on equity of 70.94% and a net margin of 18.32%. Celgene Corporation’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 earnings per share. Equities research analysts anticipate that Celgene Corporation will post $7.29 EPS for the current year.

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In other Celgene Corporation news, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $124.00, for a total transaction of $1,147,000.00. Following the transaction, the director now owns 32,169 shares in the company, valued at $3,988,956. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the transaction, the insider now owns 4,004 shares in the company, valued at approximately $481,200.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,068 shares of company stock worth $3,459,768. 0.95% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. Headinvest LLC acquired a new position in Celgene Corporation during the fourth quarter valued at approximately $2,667,000. Edge Wealth Management LLC boosted its position in Celgene Corporation by 10.5% in the first quarter. Edge Wealth Management LLC now owns 15,920 shares of the biopharmaceutical company’s stock valued at $1,979,000 after buying an additional 1,518 shares during the period. Russell Investments Group Ltd. acquired a new position in Celgene Corporation during the fourth quarter valued at approximately $55,336,000. Essex Financial Services Inc. boosted its position in Celgene Corporation by 5.8% in the fourth quarter. Essex Financial Services Inc. now owns 28,072 shares of the biopharmaceutical company’s stock valued at $3,249,000 after buying an additional 1,543 shares during the period. Finally, Catawba Capital Management VA boosted its position in Celgene Corporation by 12.0% in the first quarter. Catawba Capital Management VA now owns 2,425 shares of the biopharmaceutical company’s stock valued at $302,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 78.26% of the company’s stock.

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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