Celgene (CELG) Stock Rating Reaffirmed by Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of Celgene (NASDAQ:CELG) in a report published on Thursday morning. They currently have a $92.00 price target on the biopharmaceutical company’s stock.
Several other brokerages also recently commented on CELG. Vetr downgraded Celgene from a strong-buy rating to a buy rating and set a $121.72 price target on the stock. in a research report on Monday, December 18th. Deutsche Bank assumed coverage on Celgene in a research report on Tuesday, December 12th. They issued a hold rating and a $114.00 price target on the stock. Credit Suisse Group set a $128.00 price target on Celgene and gave the stock a buy rating in a research report on Tuesday, December 12th. Piper Jaffray Companies reissued a hold rating on shares of Celgene in a report on Sunday, December 10th. Finally, Oppenheimer set a $166.00 price objective on Celgene and gave the stock a buy rating in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Celgene currently has an average rating of Buy and an average target price of $128.22.
Celgene (NASDAQ:CELG) opened at $89.15 on Thursday. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $67,190.00, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 0.63 and a beta of 1.58. Celgene has a 1 year low of $86.55 and a 1 year high of $147.17.
Celgene announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Celgene news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the transaction, the director now owns 94,801 shares in the company, valued at approximately $9,099,947.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark J. Alles acquired 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. In the last quarter, insiders sold 31,870 shares of company stock valued at $3,028,416. Corporate insiders own 0.95% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. LSV Asset Management bought a new stake in shares of Celgene during the second quarter worth $1,701,000. Spectrum Management Group Inc. bought a new stake in shares of Celgene during the second quarter worth $462,000. Polen Capital Management LLC raised its position in shares of Celgene by 7.7% during the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after acquiring an additional 363,108 shares during the last quarter. BlackRock Inc. raised its position in shares of Celgene by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after acquiring an additional 3,084,227 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Celgene by 3.1% during the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.
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.
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