Piper Jaffray Companies Reaffirms “Hold” Rating for Celgene (CELG)
Celgene (NASDAQ:CELG)‘s stock had its “hold” rating reaffirmed by stock analysts at Piper Jaffray Companies in a research note issued on Sunday.
A number of other research analysts also recently issued reports on CELG. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the stock a “hold” rating in a research report on Monday. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $148.32 target price for the company in a research note on Wednesday, August 16th. Atlantic Securities upgraded shares of Celgene from a “neutral” rating to an “overweight” rating in a research note on Friday. Stifel Nicolaus lowered their target price on shares of Celgene from $155.00 to $149.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Finally, Robert W. Baird cut shares of Celgene from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $162.00 to $136.00 in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $139.57.
Celgene (CELG) traded up $2.87 during midday trading on Friday, reaching $108.96. 4,428,365 shares of the company’s stock were exchanged, compared to its average volume of 4,766,060. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. The stock has a market cap of $83,526.45, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.82 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 posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. equities research analysts expect that Celgene will post 6.67 earnings per share for the current year.
In other news, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the sale, the insider now owns 3,925 shares of the company’s stock, valued at $564,768.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the sale, the director now directly owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The disclosure for this sale can be found here. 0.95% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its position in Celgene by 4.0% in the first quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after buying an additional 71,729 shares during the last quarter. Grisanti Capital Management LLC acquired a new stake in shares of Celgene during the second quarter worth about $3,616,000. Lincoln Capital Corp lifted its position in shares of Celgene by 0.6% during the second quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock worth $3,971,000 after purchasing an additional 185 shares in the last quarter. RiverPoint Capital Management LLC lifted its position in shares of Celgene by 3.1% during the second quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock worth $15,799,000 after purchasing an additional 3,680 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Celgene by 9.2% during the second quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock worth $83,344,000 after purchasing an additional 54,210 shares in the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.
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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