Celgene Corporation (NASDAQ:CELG)‘s stock had its “buy” rating reissued by stock analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Friday, July 14th. They currently have a $150.00 target price on the biopharmaceutical company’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 9.73% from the company’s current price.
Other analysts have also issued reports about the company. Jefferies Group LLC set a $154.00 price objective on Celgene Corporation and gave the company a “buy” rating in a research note on Saturday, May 13th. Vetr lowered Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $132.90 price target on the stock. in a research note on Thursday, May 11th. Cann reissued a “buy” rating and set a $148.00 price target on shares of Celgene Corporation in a research note on Tuesday, April 4th. BTIG Research reissued a “buy” rating and set a $138.00 price target on shares of Celgene Corporation in a research note on Monday, May 1st. Finally, Cantor Fitzgerald set a $159.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. Celgene Corporation presently has an average rating of “Buy” and an average price target of $147.06.
Celgene Corporation (CELG) opened at 136.70 on Friday. The firm has a market cap of $106.95 billion, a price-to-earnings ratio of 42.34 and a beta of 1.89. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $139.00. The company’s 50-day moving average is $132.00 and its 200 day moving average is $123.32.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. Celgene Corporation’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. On average, equities research analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.
In related news, Director Michael D. Casey sold 9,250 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the sale, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Insiders have sold a total of 235,255 shares of company stock valued at $31,377,042 over the last 90 days. 0.95% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Motco boosted its stake in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Celgene Corporation during the first quarter valued at about $118,000. Carroll Financial Associates Inc. raised its position in shares of Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 412 shares in the last quarter. Finally, Acropolis Investment Management LLC purchased a new position in shares of Celgene Corporation during the second quarter valued at about $144,000. Institutional investors and hedge funds own 78.39% of the company’s stock.
About Celgene Corporation
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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