Traders Buy Shares of Celgene (CELG) on Weakness

Investors purchased shares of Celgene Co. (NASDAQ:CELG) on weakness during trading on Thursday. $206.09 million flowed into the stock on the tick-up and $120.87 million flowed out of the stock on the tick-down, for a money net flow of $85.22 million into the stock. Of all stocks tracked, Celgene had the 3rd highest net in-flow for the day. Celgene traded down ($0.30) for the day and closed at $101.72

Several brokerages recently issued reports on CELG. Piper Jaffray Companies reiterated a “hold” rating and set a $104.00 price target on shares of Celgene in a research report on Thursday. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $114.80 target price on the stock in a research report on Wednesday. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the company a “hold” rating in a research report on Wednesday. Mizuho restated a “buy” rating and set a $128.00 target price on shares of Celgene in a research report on Wednesday. Finally, Guggenheim restated a “buy” rating and set a $147.00 target price on shares of Celgene in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Celgene presently has an average rating of “Buy” and an average price target of $129.98.

The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. The company has a market capitalization of $80,090.00, a P/E ratio of 23.99, a PEG ratio of 0.67 and a beta of 1.77.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. analysts anticipate that Celgene Co. will post 6.7 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of CELG. Iberiabank Corp grew its stake in shares of Celgene by 7.5% during the 2nd quarter. Iberiabank Corp now owns 10,901 shares of the biopharmaceutical company’s stock worth $1,416,000 after acquiring an additional 764 shares in the last quarter. Heritage Investors Management Corp bought a new position in shares of Celgene during the 2nd quarter worth approximately $2,383,000. Capital Investment Advisors LLC grew its stake in shares of Celgene by 16.6% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $362,000 after acquiring an additional 397 shares in the last quarter. New England Research & Management Inc. grew its stake in shares of Celgene by 12.4% during the 2nd quarter. New England Research & Management Inc. now owns 11,184 shares of the biopharmaceutical company’s stock worth $1,452,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of Celgene by 4.0% during the 2nd quarter. Fulton Bank N.A. now owns 25,623 shares of the biopharmaceutical company’s stock worth $3,328,000 after acquiring an additional 996 shares in the last quarter. 79.85% of the stock is owned by institutional investors.

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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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