Celgene Corporation (NASDAQ:CELG) has received a consensus recommendation of “Buy” from the thirty analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $147.11.
Several analysts have weighed in on CELG shares. BTIG Research cut Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $96.93 to $131.70 in a report on Friday, June 30th. Leerink Swann reissued an “outperform” rating and set a $160.00 price objective (up from $150.00) on shares of Celgene Corporation in a report on Friday, July 28th. Argus raised Celgene Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $96.93 to $160.00 in a report on Monday, July 31st. Credit Suisse Group set a $148.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. Finally, Cann reissued a “buy” rating on shares of Celgene Corporation in a report on Wednesday, June 7th.
Celgene Corporation (NASDAQ:CELG) traded down 0.50% during trading on Friday, reaching $140.55. 3,074,173 shares of the company’s stock traded hands. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $142.64. The firm’s 50 day moving average is $134.52 and its 200-day moving average is $127.11. The company has a market capitalization of $109.96 billion, a price-to-earnings ratio of 43.53 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last announced 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. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS. Analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
In other news, insider Robert J. Hugin sold 175,970 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares of the company’s stock, valued at approximately $138,688,553.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael D. Casey sold 9,250 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $125.59, for a total value of $1,161,707.50. The disclosure for this sale can be found here. In the last three months, insiders sold 258,226 shares of company stock valued at $34,503,411. 0.95% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lincoln Capital Corp raised its stake in Celgene Corporation by 0.6% in the 2nd quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock valued at $3,971,000 after acquiring an additional 185 shares during the period. Neuberger Berman Group LLC raised its stake in Celgene Corporation by 4.0% in the 1st quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after acquiring an additional 71,729 shares during the period. Swiss National Bank raised its stake in Celgene Corporation by 27.2% in the 1st quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock valued at $341,796,000 after acquiring an additional 588,000 shares during the period. Russell Investments Group Ltd. raised its stake in Celgene Corporation by 9.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock valued at $83,344,000 after acquiring an additional 54,210 shares during the period. Finally, Boston Partners raised its stake in Celgene Corporation by 0.3% in the 1st quarter. Boston Partners now owns 197,861 shares of the biopharmaceutical company’s stock valued at $24,620,000 after acquiring an additional 541 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.
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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.
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