Celgene (CELG) Given a $106.00 Price Target by UBS Group Analysts
UBS Group set a $106.00 price target on Celgene (NASDAQ:CELG) in a research report sent to investors on Wednesday, www.tipranks.com reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other research analysts have also recently weighed in on the company. Stifel Nicolaus reissued a buy rating and issued a $128.00 price objective (down previously from $130.00) on shares of Celgene in a research report on Wednesday. SunTrust Banks cut Celgene from a buy rating to a hold rating and cut their price objective for the stock from $139.00 to $106.00 in a research report on Wednesday. Cantor Fitzgerald set a $112.00 price objective on Celgene and gave the stock a hold rating in a research report on Tuesday, February 27th. Zacks Investment Research raised Celgene from a sell rating to a hold rating in a research report on Tuesday, February 27th. Finally, Cann reissued a buy rating and issued a $163.00 price objective on shares of Celgene in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $128.22.
Celgene (NASDAQ:CELG) opened at $89.33 on Wednesday. The stock has a market capitalization of $67,191.88, a P/E ratio of 24.95, a P/E/G ratio of 0.63 and a beta of 1.58. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene has a 1 year low of $86.55 and a 1 year high of $147.17.
Celgene announced that its board has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Ernest Mario sold 13,370 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the purchase, 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. Over the last quarter, insiders have sold 31,870 shares of company stock worth $3,028,416. 0.95% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. ADAMCAPITAL Gestao de Recursos Ltda. bought a new position in Celgene in the 4th quarter worth about $30,010,000. Cambridge Investment Research Advisors Inc. increased its stake in Celgene by 7.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 37,350 shares of the biopharmaceutical company’s stock worth $3,898,000 after acquiring an additional 2,459 shares during the last quarter. Fairfield Bush & CO. increased its stake in Celgene by 22.5% in the 4th quarter. Fairfield Bush & CO. now owns 16,025 shares of the biopharmaceutical company’s stock worth $1,672,000 after acquiring an additional 2,945 shares during the last quarter. Wagner Wealth Management LLC bought a new position in Celgene in the 4th quarter worth about $129,000. Finally, Xact Kapitalforvaltning AB increased its stake in Celgene by 8.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 198,484 shares of the biopharmaceutical company’s stock worth $20,714,000 after acquiring an additional 15,355 shares during the last quarter. Institutional investors own 77.84% of the company’s stock.
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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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