Investors Buy Shares of Celgene (CELG) on Weakness

Traders bought shares of Celgene Co. (NASDAQ:CELG) on weakness during trading on Thursday. $154.03 million flowed into the stock on the tick-up and $116.89 million flowed out of the stock on the tick-down, for a money net flow of $37.14 million into the stock. Of all stocks tracked, Celgene had the 7th highest net in-flow for the day. Celgene traded down ($0.88) for the day and closed at $104.58

A number of equities research analysts recently weighed in on CELG shares. BMO Capital Markets lifted their target price on Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Oppenheimer reissued a “buy” rating and set a $170.00 target price on shares of Celgene in a research report on Friday, October 20th. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 target price on the stock in a research report on Monday, October 23rd. Cann reissued a “buy” rating on shares of Celgene in a research report on Thursday, October 26th. Finally, Morgan Stanley raised Celgene from an “underweight” rating to an “equal weight” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the stock. Celgene has an average rating of “Buy” and a consensus target price of $131.18.

The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. The company has a market capitalization of $82,340.00, a P/E ratio of 24.67, a PEG ratio of 0.68 and a beta of 1.77.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. Celgene had a net margin of 30.06% and a return on equity of 43.32%. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. Celgene’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts anticipate that Celgene Co. will post 6.68 earnings per share for the current year.

Several large investors have recently bought and sold shares of CELG. Thompson Davis & CO. Inc. raised its stake in shares of Celgene by 5.9% in the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the last quarter. Robecosam AG bought a new position in Celgene in the 3rd quarter worth approximately $114,000. Guidant Wealth Advisors bought a new position in Celgene in the 3rd quarter worth approximately $119,000. Finally, Capital Bank & Trust Co raised its position in Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

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About Celgene

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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