Celgene Corporation (NASDAQ:CELG) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday. The firm presently has a $148.32 target price on the biopharmaceutical company’s stock. Vetr‘s price objective suggests a potential upside of 13.77% from the stock’s current price.

A number of other research firms have also weighed in on CELG. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $96.93 to $131.70 in a research report on Friday, June 30th. Leerink Swann reissued an “outperform” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Celgene Corporation in a research report on Friday, July 28th. Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $96.93 to $160.00 in a research report on Monday, July 31st. Credit Suisse Group set a $148.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, July 6th. Finally, Cann reissued a “buy” rating on shares of Celgene Corporation in a research report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $147.00.

Celgene Corporation (CELG) traded down 3.84% during mid-day trading on Thursday, hitting $130.37. 4,220,980 shares of the stock traded hands. The firm’s 50-day moving average is $134.23 and its 200-day moving average is $124.17. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00. The company has a market cap of $101.99 billion, a price-to-earnings ratio of 40.37 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. Equities research analysts expect that Celgene Corporation will post $7.32 EPS for the current year.

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In other Celgene Corporation news, 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 transaction of $575,061.30. Following the sale, the insider now directly owns 4,004 shares of the company’s stock, valued at $481,200.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Casey sold 9,250 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The disclosure for this sale can be found here. Insiders sold 235,255 shares of company stock worth $31,377,042 over the last ninety days. 0.95% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of CELG. Swiss National Bank boosted its stake in shares of Celgene Corporation by 27.2% in the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock worth $341,796,000 after buying an additional 588,000 shares during the period. Edge Wealth Management LLC boosted its stake in shares of Celgene Corporation by 10.5% in the first quarter. Edge Wealth Management LLC now owns 15,920 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,518 shares during the period. Boston Partners boosted its stake in shares of Celgene Corporation by 0.3% in the first quarter. Boston Partners now owns 197,861 shares of the biopharmaceutical company’s stock worth $24,620,000 after buying an additional 541 shares during the period. Catawba Capital Management VA boosted its stake in shares of Celgene Corporation by 12.0% in the first quarter. Catawba Capital Management VA now owns 2,425 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 260 shares during the period. Finally, Chicago Equity Partners LLC boosted its stake in shares of Celgene Corporation by 148.8% in the first quarter. Chicago Equity Partners LLC now owns 86,480 shares of the biopharmaceutical company’s stock worth $10,761,000 after buying an additional 51,715 shares during the period. 78.41% of the stock is currently owned by institutional investors.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

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