Celgene Corporation (NASDAQ:CELG) Rating Reiterated by Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of Celgene Corporation (NASDAQ:CELG) in a research report released on Friday, July 21st. They currently have a $162.00 target price on the biopharmaceutical company’s stock.

Other analysts have also recently issued research 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. BTIG Research cut Celgene Corporation from a buy rating to a neutral rating and increased their price target for the stock from $96.93 to $131.70 in a research report on Friday, June 30th. SunTrust Banks, Inc. set a $150.00 price objective on Celgene Corporation and gave the stock a buy rating in a report on Thursday, July 6th. Cann reissued a buy rating on shares of Celgene Corporation in a report on Thursday, April 27th. Finally, Canaccord Genuity set a $156.00 price objective on Celgene Corporation and gave the stock a buy rating in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $147.06.

Shares of Celgene Corporation (NASDAQ CELG) opened at 135.57 on Friday. The stock’s 50 day moving average price is $134.30 and its 200-day moving average price is $124.13. The stock has a market cap of $106.06 billion, a price-to-earnings ratio of 41.99 and a beta of 1.89. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $139.00.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 earnings per share. Equities analysts anticipate that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

In other Celgene Corporation news, Director James J. Loughlin sold 18,500 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $133.57, for a total value of $2,471,045.00. Following the completion of the sale, the director now directly owns 32,877 shares in the company, valued at $4,391,380.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the transaction, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders have sold 235,255 shares of company stock valued at $31,377,042 in the last ninety days. Insiders own 0.95% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. Motco raised its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Celgene Corporation during the first quarter valued at approximately $118,000. Carroll Financial Associates Inc. raised its stake 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. Penserra Capital Management LLC bought a new stake in shares of Celgene Corporation during the second quarter valued at approximately $129,000. Finally, Oakworth Capital Inc. raised its stake 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. 78.41% of the stock is currently owned by institutional investors.

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.