Celgene (NASDAQ:CELG)‘s stock had its “buy” rating reaffirmed by analysts at Cann in a report issued on Thursday. They currently have a $163.00 price objective on the biopharmaceutical company’s stock. Cann’s price objective points to a potential upside of 72.69% from the stock’s previous close.
The analysts wrote, “Celgene announced today that John Weiland has been elected to its board of directors. Mr. Weiland was most recently President and Chief Operating Officer of C.R. Bard, Inc. Prior to this role, Mr. Weiland held the position of Group President of Bard and had global responsibility for Bard Medical Division, Bard Urological Division, Davol Inc., Bard Endoscopic Technologies Division and Bard’s Worldwide Manufacturing Operations. We believe Mr. Weiland will bring significant commercial and operational experience to the Celgene Board.””
Several other research firms have also weighed in on CELG. Zacks Investment Research lowered shares of Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. William Blair reiterated an “outperform” rating on shares of Celgene in a research note on Friday, October 20th. Citigroup lowered shares of Celgene from a “buy” rating to a “neutral” rating in a research note on Friday, October 20th. Robert W. Baird lowered shares of Celgene from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $162.00 to $136.00 in a research report on Friday, October 20th. Finally, Barclays lowered their price target on shares of Celgene from $135.00 to $105.00 and set an “equal weight” rating for the company in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $130.25.
Celgene (NASDAQ CELG) traded up $2.41 during mid-day trading on Thursday, reaching $94.39. 6,985,900 shares of the company’s stock traded hands, compared to its average volume of 8,144,183. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene has a 12-month low of $88.32 and a 12-month high of $147.17. The company has a market capitalization of $71,000.00, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 0.65 and a beta of 1.49.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. Celgene had a negative net margin of 2.33% and a negative return on equity of 3.87%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. equities research analysts predict that Celgene will post 7.68 earnings per share for the current fiscal year.
Celgene declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other Celgene news, insider Mark J. Alles purchased 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the acquisition, the insider now owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CELG. Thompson Davis & CO. Inc. lifted its holdings in Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in Celgene in the 4th quarter valued at about $101,000. Arcadia Investment Management Corp MI lifted its holdings in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares during the last quarter. Robecosam AG acquired a new stake in Celgene in the 3rd quarter valued at about $114,000. Finally, Guidant Wealth Advisors acquired a new stake in Celgene in the 3rd quarter valued at about $119,000. 78.10% 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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