Investors Buy Celgene (CELG) on Weakness

Investors bought shares of Celgene Co. (NASDAQ:CELG) on weakness during trading on Thursday. $206.09 million flowed into the stock on the tick-up and $120.87 million flowed out of the stock on the tick-down, for a money net flow of $85.22 million into the stock. Of all companies tracked, Celgene had the 3rd highest net in-flow for the day. Celgene traded down ($0.30) for the day and closed at $101.72

Several research firms have recently commented on CELG. Piper Jaffray Companies restated a “hold” rating and set a $104.00 price target on shares of Celgene in a research report on Thursday. BidaskClub lowered shares of Celgene from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group lowered shares of Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 price target for the company. in a research report on Thursday, October 26th. BMO Capital Markets lowered their price target on shares of Celgene from $163.00 to $148.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, Robert W. Baird lowered shares of Celgene from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $162.00 to $136.00 in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $129.98.

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 stock has a market capitalization of $81,560.00, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.77.

Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. research analysts anticipate that Celgene Co. will post 6.7 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Arcadia Investment Management Corp MI lifted its stake in Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 43 shares during the last quarter. Robecosam AG acquired a new position in Celgene during the third quarter valued at approximately $114,000. Capital Bank & Trust Co grew its holdings in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares during the last quarter. Finally, Guidant Wealth Advisors acquired a new position in Celgene during the third quarter valued at approximately $119,000. 79.85% of the stock is owned by institutional investors.

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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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