Celgene Corporation (NASDAQ:CELG) Rating Reiterated by Leerink Swann

Celgene Corporation (NASDAQ:CELG)‘s stock had its “outperform” rating reissued by equities researchers at Leerink Swann in a report released on Friday, July 28th. They presently have a $160.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $150.00. Leerink Swann’s target price points to a potential upside of 21.90% from the company’s current price.

CELG has been the subject of several other research reports. Cantor Fitzgerald set a $159.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, April 27th. Cann reaffirmed a “buy” rating and set a $148.00 price objective on shares of Celgene Corporation in a research report on Tuesday, April 4th. Canaccord Genuity set a $156.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 6th. BidaskClub raised shares of Celgene Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Robert W. Baird reissued an “outperform” rating and issued a $162.00 target price on shares of Celgene Corporation in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $147.00.

Celgene Corporation (NASDAQ CELG) opened at 131.26 on Friday. The company has a 50-day moving average of $134.04 and a 200-day moving average of $124.79. The firm has a market capitalization of $102.69 billion, a price-to-earnings ratio of 40.65 and a beta of 1.89. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Celgene Corporation’s revenue was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.

In other news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Friedman sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $132.50, for a total value of $1,325,000.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $662,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,761 shares of company stock worth $33,792,445. Company insiders own 0.95% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Celgene Corporation by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after buying an additional 3,084,227 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Celgene Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after buying an additional 1,610,056 shares in the last quarter. State Street Corp raised its stake in shares of Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after buying an additional 723,844 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Celgene Corporation by 1.2% in the second quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock valued at $1,742,301,000 after buying an additional 156,864 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Celgene Corporation by 5.9% in the second quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock valued at $1,635,643,000 after buying an additional 697,250 shares in the last quarter. 78.34% of the stock is owned by hedge funds and other 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.