Deutsche Bank Initiates Coverage on Celgene (CELG)
Deutsche Bank assumed coverage on shares of Celgene (NASDAQ:CELG) in a report issued on Tuesday. The brokerage issued a hold rating and a $114.00 price objective on the biopharmaceutical company’s stock.
CELG has been the subject of a number of other reports. William Blair reiterated an outperform rating on shares of Celgene in a research report on Friday, October 20th. BidaskClub upgraded Celgene from a sell rating to a hold rating in a research report on Tuesday. Leerink Swann reiterated a buy rating and issued a $156.00 price objective on shares of Celgene in a research report on Friday, October 20th. Piper Jaffray Companies reiterated a neutral rating and issued a $133.00 price objective on shares of Celgene in a research report on Monday, October 23rd. Finally, Wells Fargo & Company lowered Celgene from an outperform rating to a market perform rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $136.21.
Shares of Celgene (NASDAQ CELG) traded up $1.17 during mid-day trading on Tuesday, reaching $109.41. The company had a trading volume of 9,719,225 shares, compared to its average volume of 5,339,085. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. The firm has a market capitalization of $85,219.19, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 0.83 and a beta of 1.78. Celgene has a 1 year low of $94.55 and a 1 year high of $147.17.
Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. The firm had revenue of $3.29 billion during 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%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. analysts expect that Celgene will post 6.68 EPS for the current year.
In related news, insider Terrie Curran sold 1,727 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was 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 approximately $564,768.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. lifted its stake in Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares in the last quarter. Robecosam AG bought a new stake in Celgene in the 3rd quarter valued at approximately $114,000. Guidant Wealth Advisors bought a new stake in Celgene in the 3rd quarter valued at approximately $119,000. Finally, Capital Bank & Trust Co lifted its stake in Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 517 shares in the last quarter. Institutional investors and hedge funds own 80.16% of the company’s stock.
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Celgene 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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