Celgene (CELG) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of Celgene (NASDAQ:CELG) in a research report report published on Wednesday, MarketBeat reports. They currently have a $128.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $130.00.
A number of other analysts have also recently weighed in on the stock. SunTrust Banks cut shares of Celgene from a buy rating to a hold rating and lowered their target price for the company from $139.00 to $106.00 in a research note on Wednesday. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the company a hold rating in a research note on Tuesday, February 27th. Zacks Investment Research raised shares of Celgene from a sell rating to a hold rating in a research note on Tuesday, February 27th. Cann reissued a buy rating and issued a $163.00 target price on shares of Celgene in a research note on Thursday, February 15th. Finally, Barclays raised shares of Celgene from an equal weight rating to an overweight rating and upped their target price for the company from $91.51 to $105.00 in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Celgene has a consensus rating of Buy and a consensus target price of $128.22.
Shares of Celgene (NASDAQ CELG) opened at $89.33 on Wednesday. The firm has a market cap of $67,191.88, a PE ratio of 24.95, a P/E/G ratio of 0.63 and a beta of 1.58. Celgene has a 52 week low of $86.55 and a 52 week high of $147.17. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80.
Celgene declared that its Board of Directors has initiated a share buyback program 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 programs are typically a sign that the company’s management believes its shares are undervalued.
In related news, insider Mark J. Alles bought 3,260 shares of Celgene stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the transaction, the insider now owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total transaction of $877,177.50. Following the transaction, the director now owns 94,801 shares in the company, valued at $8,989,978.83. The disclosure for this sale can be found here. Insiders have sold 31,870 shares of company stock worth $3,028,416 over the last quarter. 0.95% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CELG. Beach Investment Management LLC. lifted its holdings in Celgene by 1,935.3% in the second quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock valued at $16,388,000 after buying an additional 119,988 shares during the period. Oaktop Capital Management II L.P. acquired a new position in Celgene in the second quarter valued at approximately $271,605,000. Buckingham Asset Management LLC acquired a new position in Celgene in the second quarter valued at approximately $246,000. Capital Planning Advisors LLC increased its stake in Celgene by 134.4% in the second quarter. Capital Planning Advisors LLC now owns 5,175 shares of the biopharmaceutical company’s stock valued at $672,000 after purchasing an additional 2,967 shares in the last quarter. Finally, Sage Capital Advisors llc bought a new stake in Celgene in the second quarter valued at approximately $225,000. Institutional investors and hedge funds 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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