Celgene (NASDAQ:CELG)‘s stock had its “top pick” rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Tuesday, January 23rd.
Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Co reiterated a “buy” rating and set a $163.00 price target on shares of Celgene in a research report on Friday, October 20th. UBS Group reduced their price target on shares of Celgene from $153.00 to $146.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Stifel Nicolaus cut their price objective on shares of Celgene from $155.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Vetr upgraded shares of Celgene from a “hold” rating to a “buy” rating and set a $146.58 price objective on the stock in a report on Friday, October 6th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $162.00 price objective on shares of Celgene in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Celgene currently has an average rating of “Buy” and a consensus target price of $130.35.
Shares of Celgene (NASDAQ:CELG) traded up $2.41 during midday trading on Tuesday, hitting $94.39. 6,951,783 shares of the company traded hands, compared to its average volume of 8,440,000. Celgene has a one year low of $88.32 and a one year high of $147.17. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The stock has a market capitalization of $71,000.00, a PE ratio of 26.15, a P/E/G ratio of 0.64 and a beta of 1.49.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. Celgene’s quarterly revenue was up 16.9% on a year-over-year basis. equities analysts anticipate that Celgene will post 7.68 EPS for the current year.
Celgene declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares in the company, valued at $16,441,277.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Grisanti Capital Management LLC purchased a new position in Celgene in the second quarter valued at approximately $3,616,000. RiverPoint Capital Management LLC lifted its position in shares of Celgene by 3.1% during the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock worth $15,799,000 after buying an additional 3,680 shares during the period. LSV Asset Management bought a new position in shares of Celgene during the 2nd quarter worth approximately $1,701,000. Spectrum Management Group Inc. bought a new position in shares of Celgene during the 2nd quarter worth approximately $462,000. Finally, Polen Capital Management LLC lifted its position in shares of Celgene by 7.7% during the 2nd quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after buying an additional 363,108 shares during the period. Institutional investors own 78.10% of the company’s stock.
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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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