Traders Buy Shares of Celgene (CELG) on Weakness
Investors bought shares of Celgene Co. (NASDAQ:CELG) on weakness during trading hours on Wednesday. $313.79 million flowed into the stock on the tick-up and $229.78 million flowed out of the stock on the tick-down, for a money net flow of $84.01 million into the stock. Of all stocks tracked, Celgene had the 6th highest net in-flow for the day. Celgene traded down ($2.80) for the day and closed at $102.02
A number of equities research analysts recently issued reports on CELG shares. Cantor Fitzgerald reissued a “buy” rating and issued a $162.00 price target on shares of Celgene in a research note on Tuesday, September 26th. Robert W. Baird reissued a “buy” rating and issued a $162.00 price target on shares of Celgene in a research note on Thursday, September 21st. Vetr raised shares of Celgene from a “hold” rating to a “buy” rating and set a $146.58 price target on the stock in a research note on Friday, October 6th. Royal Bank of Canada reissued a “buy” rating and issued a $173.00 price target on shares of Celgene in a research note on Thursday, October 5th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Celgene in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $129.98.
The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. The stock has a market cap of $81,010.00, a price-to-earnings ratio of 24.21, a P/E/G ratio of 0.65 and a beta of 1.77.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. equities research analysts forecast that Celgene Co. will post 6.7 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI raised its holdings in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the period. Thompson Davis & CO. Inc. raised its holdings in Celgene 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 buying an additional 43 shares during the period. Robecosam AG purchased a new stake in Celgene in the 3rd quarter valued at about $114,000. Capital Bank & Trust Co raised its holdings in Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the period. Finally, Guidant Wealth Advisors purchased a new stake in Celgene in the 3rd quarter valued at about $119,000. Institutional investors and hedge funds 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.
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