Barclays upgraded shares of Celgene (NASDAQ:CELG) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Barclays currently has $105.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $91.51.

Several other brokerages have also weighed in on CELG. Zacks Investment Research lowered Celgene from a buy rating to a hold rating in a research report on Wednesday, October 18th. Sanford C. Bernstein started coverage on Celgene in a research note on Tuesday, October 17th. They set an outperform rating and a $162.00 price target on the stock. BMO Capital Markets raised their price target on Celgene from $160.00 to $167.00 and gave the stock a positive rating in a research note on Tuesday, October 17th. JPMorgan Chase & Co. restated a buy rating on shares of Celgene in a research note on Monday, October 16th. Finally, Jefferies Group restated a buy rating and set a $160.00 price target on shares of Celgene in a research note on Monday, October 16th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Celgene currently has an average rating of Buy and an average price target of $130.35.

Shares of Celgene (CELG) opened at $91.98 on Tuesday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. Celgene has a 12-month low of $88.32 and a 12-month high of $147.17. The firm has a market capitalization of $69,190.00, a PE ratio of 25.48, a PEG ratio of 0.66 and a beta of 1.49.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company earned $1.61 EPS. The business’s quarterly revenue was up 16.9% on a year-over-year basis. research analysts forecast that Celgene will post 7.68 earnings per share for the current fiscal year.

In other news, insider Mark J. Alles acquired 3,260 shares of Celgene stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.95% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in shares of Celgene by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after acquiring an additional 8,217,433 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Celgene by 5.7% in 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. Oaktop Capital Management II L.P. acquired a new position in shares of Celgene in the second quarter worth $271,605,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Celgene by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after acquiring an additional 1,787,052 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Celgene by 3.1% in 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. 78.10% of the stock is owned by hedge funds and other institutional investors.

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About Celgene

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.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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