Celgene Corporation (CELG) Given Outperform Rating at Cowen and Company
Cowen and Company restated their outperform rating on shares of Celgene Corporation (NASDAQ:CELG) in a research report report published on Thursday morning. The brokerage currently has a $150.00 price target on the biopharmaceutical company’s stock.
A number of other analysts have also commented on CELG. Cann restated a buy rating and issued a $148.00 price target on shares of Celgene Corporation in a report on Tuesday, April 4th. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $148.00 price target on shares of Celgene Corporation in a report on Wednesday, April 5th. Jefferies Group LLC restated a buy rating and issued a $154.00 price target on shares of Celgene Corporation in a report on Tuesday, April 11th. Robert W. Baird restated an outperform rating and issued a $162.00 price target on shares of Celgene Corporation in a report on Wednesday, April 19th. Finally, Barclays PLC restated an equal weight rating and issued a $125.00 price target (up from $120.00) on shares of Celgene Corporation in a report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $146.02.
Shares of Celgene Corporation (NASDAQ:CELG) traded up 1.19% on Thursday, reaching $135.70. The company’s stock had a trading volume of 3,055,961 shares. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The company’s 50 day moving average is $131.06 and its 200-day moving average is $122.99. The stock has a market cap of $106.16 billion, a PE ratio of 42.03 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The company 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 quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. On average, equities analysts predict that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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In other news, Director James J. Loughlin sold 18,500 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $133.57, for a total value of $2,471,045.00. Following the completion of the transaction, the director now directly owns 32,877 shares in the company, valued at approximately $4,391,380.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the transaction, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Insiders sold a total of 227,755 shares of company stock valued at $30,368,142 over the last quarter. 0.95% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Motco increased its stake in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation during the first quarter worth $118,000. Carroll Financial Associates Inc. increased its stake in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 400 shares during the last quarter. Oakworth Capital Inc. increased its stake in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares during the last quarter. Finally, Acropolis Investment Management LLC bought a new stake in Celgene Corporation during the second quarter worth $144,000. Institutional investors own 78.39% of the company’s stock.
Celgene Corporation 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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