Celgene Corporation (CELG) Given “Buy” Rating at Bank of America Corporation
A number of other research analysts have also weighed in on the company. Leerink Swann raised Celgene Corporation from a market perform rating to an outperform rating and lifted their target price for the company from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a sell rating and set a $98.00 price target (up previously from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. William Blair reiterated an outperform rating on shares of Celgene Corporation in a research report on Monday, June 26th. BTIG Research downgraded Celgene Corporation from a buy rating to a neutral rating and lifted their price target for the company from $96.93 to $131.70 in a research report on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 price target on Celgene Corporation and gave the company a buy rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $147.31.
Celgene Corporation (NASDAQ CELG) traded up 0.13% on Wednesday, hitting $141.44. 1,045,147 shares of the stock were exchanged. The firm has a market cap of $110.66 billion, a PE ratio of 43.80 and a beta of 1.89. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $142.64. The company has a 50-day moving average price of $134.52 and a 200-day moving average price of $127.11.
Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. On average, equities research analysts anticipate that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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In related news, Director Ernest Mario sold 18,506 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $130.52, for a total value of $2,415,403.12. Following the sale, the director now directly owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $139.03, for a total value of $1,286,027.50. Following the completion of the sale, the director now directly owns 9,250 shares in the company, valued at $1,286,027.50. The disclosure for this sale can be found here. Insiders have sold 258,226 shares of company stock worth $34,503,411 over the last three months. Insiders own 0.95% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Capital Counsel LLC NY grew its stake in Celgene Corporation by 0.4% in the second quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 6 shares during the period. Fort Pitt Capital Group LLC grew its stake in Celgene Corporation by 0.6% in the second quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 11 shares during the period. Sowell Financial Services LLC grew its stake in Celgene Corporation by 0.5% in the first quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 13 shares during the period. South Texas Money Management Ltd. grew its stake in Celgene Corporation by 0.6% in the first quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 15 shares during the period. Finally, Flagship Harbor Advisors LLC grew its stake in Celgene Corporation by 0.9% in the first quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock worth $253,000 after purchasing an additional 18 shares during the period. 79.43% of the stock is currently owned by institutional investors.
Celgene Corporation Company Profile
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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