Celgene Corporation (CELG) Given New $167.00 Price Target at BMO Capital Markets
Celgene Corporation (NASDAQ:CELG) had its target price increased by BMO Capital Markets from $160.00 to $167.00 in a research report released on Tuesday morning. The brokerage currently has a positive rating on the biopharmaceutical company’s stock.
Other research analysts have also issued reports about the company. BTIG Research lowered Celgene Corporation from a buy rating to a neutral rating and lifted their target price for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Vetr upgraded Celgene Corporation from a buy rating to a strong-buy rating and set a $148.32 target price on the stock in a report on Thursday, August 10th. SunTrust Banks, Inc. set a $150.00 target price on Celgene Corporation and gave the stock a buy rating in a report on Thursday, July 6th. Canaccord Genuity set a $156.00 target price on Celgene Corporation and gave the stock a buy rating in a report on Thursday, July 27th. Finally, William Blair reiterated an outperform rating on shares of Celgene Corporation in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $151.53.
Shares of Celgene Corporation (NASDAQ:CELG) traded down 1.14% during midday trading on Tuesday, reaching $137.28. The company had a trading volume of 1,064,395 shares. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $147.17. The firm has a market cap of $107.40 billion, a P/E ratio of 42.51 and a beta of 1.88. The company’s 50-day moving average is $141.03 and its 200-day moving average is $130.15.
Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. Equities research analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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In other Celgene Corporation news, Director Ernest Mario sold 18,506 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now directly owns 69,424 shares in the company, valued at approximately $9,061,220.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now owns 3,925 shares of the company’s stock, valued at $564,768.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,233 shares of company stock valued at $6,268,259. Company insiders own 0.95% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Celgene Corporation by 5.7% during the 2nd 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 period. Vanguard Group Inc. grew its holdings in Celgene Corporation by 3.1% during the 2nd 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 period. State Street Corp grew its holdings in Celgene Corporation by 2.3% during the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after acquiring an additional 723,844 shares during the period. Jennison Associates LLC grew its holdings in Celgene Corporation by 1.2% during the 2nd quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock worth $1,742,301,000 after acquiring an additional 156,864 shares during the period. Finally, FMR LLC grew its holdings in Celgene Corporation by 5.9% during the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after acquiring an additional 697,250 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.
About Celgene Corporation
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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