Celgene (CELG) Lifted to Strong-Buy at Vetr
Vetr upgraded shares of Celgene (NASDAQ:CELG) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning. Vetr currently has $114.80 price target on the biopharmaceutical company’s stock.
Other analysts have also recently issued research reports about the stock. Mizuho restated a buy rating and issued a $128.00 target price on shares of Celgene in a research note on Wednesday. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the stock a hold rating in a research note on Wednesday. UBS Group cut shares of Celgene from a strong-buy rating to a market perform rating and set a $160.00 target price for the company. in a research note on Thursday, October 26th. BMO Capital Markets reduced their target price on shares of Celgene from $163.00 to $148.00 and set an outperform rating for the company in a research note on Friday, October 27th. Finally, Robert W. Baird cut shares of Celgene from an outperform rating to a neutral rating and reduced their target price for the stock from $162.00 to $136.00 in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Celgene currently has an average rating of Buy and a consensus price target of $130.95.
Celgene (NASDAQ CELG) traded down $0.30 during mid-day trading on Wednesday, hitting $101.72. 9,275,806 shares of the stock traded hands, compared to its average volume of 8,108,783. Celgene has a one year low of $94.55 and a one year high of $147.17. The firm has a market cap of $80,090.00, a PE ratio of 23.99, a PEG ratio of 0.67 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter last year, the business earned $1.58 EPS. The business’s revenue was up 10.2% on a year-over-year basis. equities research analysts forecast that Celgene will post 6.7 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares during the period. Vanguard Group Inc. grew its holdings in Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares during the period. Jennison Associates LLC grew its holdings in Celgene by 11.5% in the third quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after purchasing an additional 1,546,673 shares during the period. FMR LLC grew its holdings in Celgene by 5.9% in the second quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock valued at $1,635,643,000 after purchasing an additional 697,250 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Celgene by 3.3% in the second quarter. Franklin Resources Inc. now owns 11,080,093 shares of the biopharmaceutical company’s stock valued at $1,439,025,000 after purchasing an additional 349,974 shares during the period. Hedge funds and other institutional investors own 79.85% of the company’s stock.
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Celgene 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.
To view Vetr’s full report, visit Vetr’s official website.
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