Piper Jaffray Companies Reaffirms “Hold” Rating for Celgene (CELG)

Piper Jaffray Companies reissued their hold rating on shares of Celgene (NASDAQ:CELG) in a research report released on Sunday.

CELG has been the topic of a number of other research reports. William Blair reaffirmed an outperform rating on shares of Celgene in a report on Friday, October 20th. Leerink Swann reissued a buy rating and set a $156.00 price target on shares of Celgene in a research note on Friday, October 20th. Wells Fargo & Company lowered Celgene from an outperform rating to a market perform rating in a research note on Thursday, October 26th. Vetr lowered Celgene from a buy rating to a hold rating and set a $145.17 price target on the stock. in a research note on Wednesday, September 6th. Finally, Barclays boosted their price target on Celgene from $135.00 to $140.00 and gave the stock an equal weight rating in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $136.21.

Shares of Celgene (NASDAQ CELG) opened at $108.20 on Friday. Celgene has a twelve month low of $94.55 and a twelve month high of $147.17. The firm has a market capitalization of $85,850.00, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 0.83 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities research analysts forecast that Celgene will post 6.67 earnings per share for the current fiscal year.

In other Celgene news, insider Terrie Curran sold 1,727 shares of the business’s stock in a transaction 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 at this hyperlink. Insiders own 0.95% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its position in Celgene by 756.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,631 shares of the biopharmaceutical company’s stock worth $967,000 after purchasing an additional 5,857 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Celgene during the 3rd quarter worth $3,149,000. Public Employees Retirement System of Ohio boosted its position in Celgene by 1.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 601,520 shares of the biopharmaceutical company’s stock worth $87,714,000 after purchasing an additional 11,416 shares during the period. GSA Capital Partners LLP purchased a new stake in Celgene during the 3rd quarter worth $1,370,000. Finally, Americafirst Capital Management LLC purchased a new stake in Celgene during the 3rd quarter worth $309,000. Institutional investors and hedge funds own 80.16% of the company’s stock.

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About Celgene

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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