Cann Reaffirms Buy Rating for Celgene (CELG)

Cann reissued their buy rating on shares of Celgene (NASDAQ:CELG) in a research report report published on Monday morning.

“ASH data for AUGMENT, TRANSCEND, BELIEVE and MEDALIST, were very impressive. The TRANSCEND data in relapsed/refractory CLL demonstrated very high ORRs with good durability. We currently have no impact by 2022 for JCAR17, but believe it has important potential post-2022. The positive AUGMENT data are very encouraging in this difficult to treat setting, and could provide a new chemotherapy- free option for these patients. Results from the BELIEVE study support luspatercept as a potential new treatment for adult patients with β-thalassemia, and results from MEDALIST support luspatercept in the treatment of patients with lower-risk MDS. These results for luspatercept in beta-thalassemia and in low-risk MDS could provide potential upside to our outlook, which remains unchanged at this time.”,” Cann’s analyst wrote.

Several other brokerages also recently weighed in on CELG. Leerink Swann set a $112.00 target price on Celgene and gave the company a hold rating in a research note on Friday, October 26th. BidaskClub downgraded Celgene from a sell rating to a strong sell rating in a research note on Saturday, November 10th. Zacks Investment Research downgraded Celgene from a buy rating to a hold rating in a research note on Wednesday, September 26th. UBS Group set a $94.00 price target on Celgene and gave the stock a buy rating in a research note on Saturday, October 27th. Finally, JPMorgan Chase & Co. reiterated a buy rating on shares of Celgene in a research note on Thursday, October 25th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $116.99.

Shares of Celgene stock opened at $72.47 on Monday. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99. The stock has a market cap of $50.67 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.45 and a beta of 1.50. Celgene has a 1-year low of $66.62 and a 1-year high of $110.81.

Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.27. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. On average, analysts predict that Celgene will post 7.45 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HM Payson & Co. lifted its holdings in Celgene by 134.7% in the third quarter. HM Payson & Co. now owns 9,501 shares of the biopharmaceutical company’s stock worth $850,000 after acquiring an additional 5,452 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Celgene by 9.2% during the third quarter. Clearbridge Investments LLC now owns 7,133,588 shares of the biopharmaceutical company’s stock valued at $638,385,000 after buying an additional 598,631 shares during the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in shares of Celgene by 3.9% during the third quarter. Reynders McVeigh Capital Management LLC now owns 43,890 shares of the biopharmaceutical company’s stock valued at $3,928,000 after buying an additional 1,659 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Celgene during the third quarter valued at approximately $225,000. Finally, Belpointe Asset Management LLC raised its holdings in shares of Celgene by 32.0% during the third quarter. Belpointe Asset Management LLC now owns 6,013 shares of the biopharmaceutical company’s stock valued at $538,000 after buying an additional 1,459 shares during the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

About Celgene

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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Analyst Recommendations for Celgene (NASDAQ:CELG)

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