Celgene Corporation (NASDAQ:CELG) had its price objective raised by Barclays PLC from $135.00 to $140.00 in a research note published on Friday. Barclays PLC currently has an equal weight rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued reports about the stock. BTIG Research cut 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. Vetr raised shares of Celgene Corporation from a buy rating to a strong-buy rating and set a $148.32 price target for the company in a research report on Thursday, August 10th. SunTrust Banks, Inc. set a $150.00 price target on shares of Celgene Corporation and gave the stock a buy rating in a research report on Thursday, July 6th. Canaccord Genuity set a $156.00 price target on shares of Celgene Corporation and gave the stock a buy rating in a research report on Thursday, July 27th. Finally, William Blair reaffirmed an outperform rating on shares of Celgene Corporation in a research report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $150.80.
Shares of Celgene Corporation (NASDAQ CELG) traded down 1.47% during mid-day trading on Friday, reaching $136.46. 5,151,061 shares of the company’s stock traded hands. The firm has a market capitalization of $106.76 billion, a price-to-earnings ratio of 42.26 and a beta of 1.88. The stock has a 50-day moving average price of $140.71 and a 200 day moving average price of $130.07. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $147.17.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 EPS. Analysts anticipate that Celgene Corporation will post $7.33 EPS for the current fiscal year.
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In other Celgene Corporation news, insider Terrie Curran sold 1,727 shares of the company’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 transaction of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at approximately $564,768.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the transaction, the director now owns 76,301 shares in the company, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. Insiders have sold a total of 46,233 shares of company stock worth $6,268,259 in the last 90 days. 0.95% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC increased its stake in Celgene Corporation by 4.0% during the 1st quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after purchasing an additional 71,729 shares in the last quarter. Lincoln Capital Corp increased its stake in shares of Celgene Corporation by 0.6% in the second quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock worth $3,971,000 after acquiring an additional 185 shares during the period. Grisanti Capital Management LLC acquired a new stake in shares of Celgene Corporation in the second quarter worth $3,616,000. Swiss National Bank increased 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 acquiring an additional 588,000 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Celgene Corporation by 9.2% in the second quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock worth $83,344,000 after acquiring an additional 54,210 shares during the period. Institutional investors and hedge funds own 79.36% of the company’s stock.
Celgene Corporation 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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