Stifel Nicolaus Cuts Celgene Corporation (CELG) Price Target to $149.00
Celgene Corporation (NASDAQ:CELG) had its target price decreased by Stifel Nicolaus from $155.00 to $149.00 in a research report report published on Friday morning, The Fly reports. Stifel Nicolaus currently has a buy rating on the biopharmaceutical company’s stock.
Other equities analysts have also issued reports about the company. BTIG Research lowered Celgene Corporation from a buy rating to a neutral rating and boosted their price target for the company from $96.93 to $131.70 in a research note on Friday, June 30th. Vetr raised Celgene Corporation from a buy rating to a strong-buy rating and set a $148.32 price target on the stock in a research note on Thursday, August 10th. SunTrust Banks, Inc. set a $150.00 price target on Celgene Corporation and gave the company a buy rating in a research note on Thursday, July 6th. Canaccord Genuity set a $156.00 price target on Celgene Corporation and gave the company a buy rating in a research note on Thursday, July 27th. Finally, Robert W. Baird lowered Celgene Corporation 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 report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $149.71.
Shares of Celgene Corporation (CELG) opened at 121.33 on Friday. Celgene Corporation has a one year low of $96.93 and a one year high of $147.17. The firm has a market capitalization of $94.92 billion, a P/E ratio of 37.58 and a beta of 1.88. The firm’s 50-day moving average is $140.79 and its 200 day moving average is $130.41.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The company’s revenue was up 18.7% compared to the same quarter last year. Equities research analysts predict that Celgene Corporation will post $7.33 earnings per share for the current year.
In related news, insider Terrie Curran sold 1,727 shares of the firm’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 transaction of $248,498.03. Following the transaction, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the transaction, the director now owns 76,301 shares in the company, valued at $10,264,010.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,233 shares of company stock worth $6,268,259. 0.95% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. grew its position in Celgene Corporation by 1.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 43,164 shares of the biopharmaceutical company’s stock worth $6,294,000 after acquiring an additional 538 shares during the last quarter. Whittier Trust Co. grew its position in Celgene Corporation by 1.0% during the 3rd quarter. Whittier Trust Co. now owns 115,315 shares of the biopharmaceutical company’s stock worth $16,815,000 after acquiring an additional 1,102 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Celgene Corporation during the 3rd quarter worth approximately $1,057,000. Alpha Cubed Investments LLC grew its position in Celgene Corporation by 18.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 19,808 shares of the biopharmaceutical company’s stock worth $2,888,000 after acquiring an additional 3,100 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in Celgene Corporation by 26.4% during the 3rd quarter. APG Asset Management N.V. now owns 308,887 shares of the biopharmaceutical company’s stock worth $45,042,000 after acquiring an additional 64,500 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.
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.
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