Analysts at JPMorgan Chase & Co. began coverage on shares of Celgene (NASDAQ:CELG) in a research note issued on Wednesday. The brokerage set an “overweight” rating and a $110.00 price target on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 24.62% from the stock’s current price.
CELG has been the subject of a number of other research reports. Mizuho restated a “buy” rating and set a $128.00 price objective on shares of Celgene in a report on Sunday, February 4th. Credit Suisse Group set a $125.00 price objective on Celgene and gave the company a “buy” rating in a report on Monday, January 8th. Cann restated a “buy” rating and set a $163.00 price objective on shares of Celgene in a report on Thursday, February 15th. Vetr cut Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price objective for the company. in a report on Monday, December 18th. Finally, Oppenheimer set a $166.00 price objective on Celgene and gave the company a “buy” rating in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $127.06.
Shares of CELG stock traded down $0.26 during trading on Wednesday, hitting $88.27. The stock had a trading volume of 8,146,794 shares, compared to its average volume of 8,049,572. The stock has a market cap of $66,590.10, a PE ratio of 24.66, a price-to-earnings-growth ratio of 0.63 and a beta of 1.58. 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 $86.55 and a 12-month high of $147.17.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business earned $1.61 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. equities analysts expect that Celgene will post 7.66 EPS for the current year.
Celgene declared that its board has approved a stock buyback program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In related news, insider Mark J. Alles purchased 3,260 shares of Celgene stock in a transaction dated Thursday, February 8th. The stock was purchased at an average cost of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,120 shares of company stock valued at $3,879,509. Corporate insiders own 0.95% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI increased its holdings in shares of Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Robecosam AG acquired a new position in shares of Celgene in the third quarter valued at about $114,000. Capital Bank & Trust Co increased its holdings in shares of Celgene by 166.8% in the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares during the period. Guidant Wealth Advisors acquired a new position in shares of Celgene in the third quarter valued at about $119,000. Finally, Virtue Capital Management LLC acquired a new position in shares of Celgene in the fourth quarter valued at about $101,000. 78.60% of the stock is owned by hedge funds and other institutional investors.
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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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