Celgene Corporation (CELG) Receives Buy Rating from Cann
Cann restated their buy rating on shares of Celgene Corporation (NASDAQ:CELG) in a research report report published on Wednesday. They currently have a $166.00 target price on the biopharmaceutical company’s stock.
“We conducted a physician survey to evaluate the current treatment preferences and satisfaction with available therapies, along with expectations for therapies in clinical development. Our report (published 11/21/17), Multiple Sclerosis Survey: Unmet Need Persists Despite Several Approved Treatment Options, concluded that there is a meaningful unmet need in MS treatment and a high level of interest in Ozanimod if FDA-approved. We conclude that approximately 80% of the neurologists surveyed are unsatisfied with the therapies available to them. The survey showed that 40.4% of patients are being treated with oral therapy. The surveyed neurologists replied that they would, on average, put 23.8% of their patients on a newly approved therapy they had selected from the survey.”,” the firm’s analyst commented.
A number of other research firms have also issued reports on CELG. BMO Capital Markets lifted their target price on Celgene from $148.00 to $155.00 and gave the stock an outperform rating in a report on Friday, November 17th. Leerink Swann reaffirmed an outperform rating and set a $160.00 target price (up from $150.00) on shares of Celgene in a report on Friday, July 28th. Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $170.00 target price on shares of Celgene in a report on Friday, October 20th. Vetr raised Celgene from a buy rating to a strong-buy rating and set a $144.39 target price on the stock in a report on Monday, October 23rd. Finally, Morgan Stanley raised Celgene from an underweight rating to an equal weight rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene has an average rating of Buy and a consensus target price of $139.57.
Celgene (NASDAQ CELG) opened at $104.50 on Wednesday. The stock has a market capitalization of $82,274.63, a PE ratio of 16.33, a P/E/G ratio of 0.81 and a beta of 1.79. Celgene has a fifty-two week low of $94.55 and a fifty-two week high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. Celgene’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. analysts anticipate that Celgene will post 6.67 EPS for the current year.
In related news, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total value of $1,309,430.00. Following the transaction, the director now directly owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the transaction, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,227 shares of company stock valued at $2,843,956. 0.95% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of CELG. CIBC World Markets Inc. raised its stake in shares of Celgene by 27.5% in the 1st quarter. CIBC World Markets Inc. now owns 105,626 shares of the biopharmaceutical company’s stock valued at $13,143,000 after acquiring an additional 22,764 shares in the last quarter. Holderness Investments Co. bought a new position in Celgene in the 1st quarter worth approximately $205,000. State of Wisconsin Investment Board increased its position in Celgene by 34.8% in the 1st quarter. State of Wisconsin Investment Board now owns 877,713 shares of the biopharmaceutical company’s stock worth $109,214,000 after buying an additional 226,637 shares during the period. United Bank increased its position in Celgene by 35.9% in the 1st quarter. United Bank now owns 4,793 shares of the biopharmaceutical company’s stock worth $596,000 after buying an additional 1,267 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in Celgene by 1.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 94,184 shares of the biopharmaceutical company’s stock worth $11,719,000 after buying an additional 1,334 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.
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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