Celgene Corporation (CELG) Rating Reiterated by Robert W. Baird
Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reissued by equities researchers at Robert W. Baird in a research note issued to investors on Thursday. They presently have a $162.00 price target on the biopharmaceutical company’s stock. Robert W. Baird’s price target indicates a potential upside of 12.59% from the stock’s current price.
CELG has been the subject of several other reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $175.00 price objective (up from $148.00) on shares of Celgene Corporation in a research report on Monday, July 31st. Cantor Fitzgerald set a $160.00 target price on Celgene Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. BMO Capital Markets restated an “outperform” rating and issued a $160.00 target price (up from $152.00) on shares of Celgene Corporation in a research note on Friday, July 28th. BidaskClub upgraded Celgene Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Canaccord Genuity set a $156.00 target price on Celgene Corporation and gave the company a “buy” rating in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $149.34.
Celgene Corporation (CELG) opened at 143.89 on Thursday. The firm has a 50-day moving average price of $135.45 and a 200-day moving average price of $127.81. The firm has a market capitalization of $112.57 billion, a PE ratio of 44.56 and a beta of 1.89. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $144.19.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data 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. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company posted $1.44 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis. Equities analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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In related news, Director Ernest Mario sold 18,506 shares of Celgene Corporation stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the sale, the director now owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $139.03, for a total transaction of $1,286,027.50. Following the completion of the sale, the director now directly owns 9,250 shares in the company, valued at approximately $1,286,027.50. The disclosure for this sale can be found here. Insiders sold a total of 63,006 shares of company stock worth $8,490,806 in the last ninety days. 0.95% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Ardsley Advisory Partners raised its holdings in shares of Celgene Corporation by 25.9% in the 2nd quarter. Ardsley Advisory Partners now owns 136,000 shares of the biopharmaceutical company’s stock worth $17,661,000 after purchasing an additional 28,000 shares during the period. Intl Fcstone Inc. bought a new stake in shares of Celgene Corporation in the 2nd quarter worth approximately $788,000. Gs Investments Inc. bought a new stake in shares of Celgene Corporation in the 2nd quarter worth approximately $21,489,000. United Bank VA raised its holdings in shares of Celgene Corporation by 7.1% in the 2nd quarter. United Bank VA now owns 3,050 shares of the biopharmaceutical company’s stock worth $396,000 after purchasing an additional 202 shares during the period. Finally, Phocas Financial Corp. bought a new stake in shares of Celgene Corporation in the 2nd quarter worth approximately $192,000. 79.33% of the stock is currently owned by institutional investors.
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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