Celgene (CELG) Stock Rating Reaffirmed by Robert W. Baird
Robert W. Baird restated their hold rating on shares of Celgene (NASDAQ:CELG) in a report published on Thursday morning. The brokerage currently has a $92.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts have also weighed in on CELG. William Blair reissued a buy rating on shares of Celgene in a research note on Wednesday. Credit Suisse Group set a $129.00 price target on Celgene and gave the stock a buy rating in a research note on Thursday. UBS Group set a $106.00 price target on Celgene and gave the stock a buy rating in a research note on Wednesday. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the stock a hold rating in a research note on Tuesday, February 27th. Finally, BMO Capital Markets reduced their price target on Celgene from $144.00 to $139.00 and set an outperform rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $128.22.
Shares of Celgene (NASDAQ:CELG) traded up $2.14 during trading on Thursday, hitting $89.33. The company’s stock had a trading volume of 8,720,716 shares, compared to its average volume of 7,833,088. Celgene has a one year low of $86.55 and a one year high of $147.17. The stock has a market cap of $67,191.88, a price-to-earnings ratio of 24.95, a PEG 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 declared that its board has approved a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Mark J. Alles acquired 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Insiders sold 31,870 shares of company stock worth $3,028,416 over the last three months. 0.95% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. ADAMCAPITAL Gestao de Recursos Ltda. acquired a new stake in shares of Celgene during the fourth quarter valued at about $30,010,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Celgene by 7.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 37,350 shares of the biopharmaceutical company’s stock valued at $3,898,000 after acquiring an additional 2,459 shares in the last quarter. Fairfield Bush & CO. grew its stake in shares of Celgene by 22.5% during the fourth quarter. Fairfield Bush & CO. now owns 16,025 shares of the biopharmaceutical company’s stock valued at $1,672,000 after acquiring an additional 2,945 shares in the last quarter. Wagner Wealth Management LLC acquired a new stake in shares of Celgene during the fourth quarter valued at about $129,000. Finally, Xact Kapitalforvaltning AB grew its stake in shares of Celgene by 8.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 198,484 shares of the biopharmaceutical company’s stock valued at $20,714,000 after acquiring an additional 15,355 shares in the last quarter. 77.84% of the stock is currently owned by institutional investors.
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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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