Credit Suisse Group set a $129.00 target price on Celgene (NASDAQ:CELG) in a research report sent to investors on Tuesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research analysts have also recently commented on the company. Sanford C. Bernstein cut Celgene from an outperform rating to a market perform rating and set a $121.00 target price on the stock. in a research note on Wednesday, December 27th. SunTrust Banks reaffirmed a buy rating and set a $139.00 target price (up previously from $127.00) on shares of Celgene in a research note on Friday, January 26th. Vetr raised Celgene from a buy rating to a strong-buy rating and set a $116.84 target price on the stock in a research note on Thursday, January 25th. Zacks Investment Research cut Celgene from a hold rating to a sell rating in a research note on Tuesday, December 26th. Finally, Mizuho set a $128.00 target price on Celgene and gave the company a buy rating in a research note on Friday, January 5th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Celgene has a consensus rating of Hold and a consensus price target of $126.95.
CELG opened at $91.10 on Tuesday. The company has a market cap of $68,101.98, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.61 and a beta of 1.49. Celgene has a one year low of $84.25 and a one year high of $147.17. 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 (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. equities research analysts predict that Celgene will post 7.66 earnings per share for the current year.
Celgene announced that its Board of Directors has initiated a stock repurchase 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 reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the completion of the sale, the director now owns 94,801 shares in the company, valued at approximately $9,099,947.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the acquisition, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Insiders have sold a total of 41,120 shares of company stock worth $3,879,509 in the last ninety days. Insiders own 0.95% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of Celgene by 11.5% during the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after purchasing an additional 1,546,673 shares during the last quarter. Edgewood Management LLC lifted its holdings in shares of Celgene by 0.9% during the 3rd quarter. Edgewood Management LLC now owns 10,556,896 shares of the biopharmaceutical company’s stock valued at $1,539,407,000 after purchasing an additional 98,943 shares during the last quarter. Janus Henderson Group PLC raised its stake in Celgene by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock worth $1,372,196,000 after acquiring an additional 1,001,272 shares during the last quarter. Geode Capital Management LLC raised its stake in Celgene by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 8,308,096 shares of the biopharmaceutical company’s stock worth $865,210,000 after acquiring an additional 343,340 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Celgene by 17.0% in the 4th quarter. Clearbridge Investments LLC now owns 6,316,829 shares of the biopharmaceutical company’s stock worth $659,224,000 after acquiring an additional 916,173 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.
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Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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