Celgene Corporation (CELG) Stock Rating Reaffirmed by William Blair
Celgene Corporation (NASDAQ:CELG)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a note issued to investors on Friday.
Several other equities analysts have also recently weighed in on the company. Morgan Stanley cut Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Thursday, October 5th. Cantor Fitzgerald reissued a “buy” rating on shares of Celgene Corporation in a research report on Monday, August 28th. BTIG Research cut Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $96.93 to $131.70 in a research report on Friday, June 30th. Vetr raised Celgene Corporation from a “hold” rating to a “buy” rating and set a $146.58 price objective for the company in a research report on Friday, October 6th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Celgene Corporation in a research report on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $150.49.
Shares of Celgene Corporation (NASDAQ:CELG) traded down 9.89% during midday trading on Friday, reaching $122.51. The company’s stock had a trading volume of 13,810,414 shares. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $147.17. The stock’s 50-day moving average is $141.30 and its 200 day moving average is $130.43. The stock has a market capitalization of $95.85 billion, a P/E ratio of 37.94 and a beta of 1.88.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, analysts expect that Celgene Corporation will post $7.33 earnings per share for the current fiscal year.
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In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the transaction, the director now owns 76,301 shares of the company’s stock, valued at approximately $10,264,010.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the transaction, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,233 shares of company stock worth $6,268,259. Company insiders own 0.95% of the company’s stock.
Several hedge funds have recently bought and sold shares of CELG. Thompson Davis & CO. Inc. lifted its stake in shares of Celgene Corporation by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Celgene Corporation in the 1st quarter valued at $118,000. Motco lifted its stake in shares of Celgene Corporation by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 159 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Celgene Corporation in the 2nd quarter valued at $129,000. Finally, Balentine LLC lifted its stake in shares of Celgene Corporation by 83.5% in the 2nd quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 481 shares during the period. 79.24% of the stock is currently owned by institutional investors.
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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