Celgene (CELG) Now Covered by Deutsche Bank

Deutsche Bank began coverage on shares of Celgene (NASDAQ:CELG) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on CELG. Morgan Stanley downgraded Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Thursday, October 5th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $173.00 target price on shares of Celgene in a report on Thursday, October 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $162.00 target price on shares of Celgene in a report on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $162.00 target price on shares of Celgene in a report on Tuesday, September 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Celgene in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Celgene presently has an average rating of “Buy” and an average price target of $139.57.

Shares of Celgene (CELG) traded up $1.04 during midday trading on Tuesday, hitting $109.04. The stock had a trading volume of 5,122,695 shares, compared to its average volume of 4,782,211. The company has a market capitalization of $83,526.45, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.82 and a beta of 1.78. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. Celgene has a one year low of $94.55 and a one year high of $147.17.

Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the company earned $1.58 EPS. The company’s revenue was up 10.2% on a year-over-year basis. research analysts predict that Celgene will post 6.67 earnings per share for the current fiscal year.

In other Celgene news, insider Terrie Curran sold 1,727 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.95% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Todd Asset Management LLC purchased a new position in Celgene in the first quarter valued at approximately $17,130,000. Groesbeck Investment Management Corp NJ raised its holdings in Celgene by 3.5% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 4,455 shares of the biopharmaceutical company’s stock valued at $554,000 after acquiring an additional 150 shares during the period. Marcus Capital LLC raised its holdings in Celgene by 1.5% during the 1st quarter. Marcus Capital LLC now owns 11,550 shares of the biopharmaceutical company’s stock valued at $1,437,000 after acquiring an additional 175 shares during the period. Independent Advisor Alliance raised its holdings in Celgene by 46.3% during the 1st quarter. Independent Advisor Alliance now owns 6,003 shares of the biopharmaceutical company’s stock valued at $745,000 after acquiring an additional 1,899 shares during the period. Finally, Premier Asset Managment LLC raised its holdings in Celgene by 5.0% during the 1st quarter. Premier Asset Managment LLC now owns 123,107 shares of the biopharmaceutical company’s stock valued at $15,318,000 after acquiring an additional 5,840 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.

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Celgene Company Profile

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.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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