Stifel Nicolaus Trims Celgene (CELG) Target Price to $130.00

Celgene (NASDAQ:CELG) had its price objective trimmed by Stifel Nicolaus from $149.00 to $130.00 in a research note released on Saturday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

CELG has been the topic of a number of other reports. Royal Bank of Canada dropped their price target on shares of Celgene from $166.00 to $148.00 and set a top pick rating on the stock in a research note on Friday, October 27th. Leerink Swann reaffirmed a buy rating and issued a $156.00 price target on shares of Celgene in a research note on Friday, October 20th. Morgan Stanley dropped their price target on shares of Celgene from $120.00 to $115.00 and set an underweight rating on the stock in a research note on Monday, October 23rd. SunTrust Banks dropped their price target on shares of Celgene from $156.00 to $127.00 and set a buy rating on the stock in a research note on Friday, October 27th. Finally, William Blair reaffirmed an outperform rating on shares of Celgene in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Celgene currently has an average rating of Buy and a consensus price target of $132.63.

Celgene (CELG) opened at $106.16 on Friday. Celgene has a one year low of $94.55 and a one year high of $147.17. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. The firm has a market cap of $83,580.00, a price-to-earnings ratio of 25.04, a PEG ratio of 0.81 and a beta of 1.77.

Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the business posted $1.58 earnings per share. Celgene’s revenue for the quarter was up 10.2% compared to the same quarter last year. research analysts predict that Celgene will post 6.68 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Celgene by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after acquiring an additional 3,084,227 shares during the period. Vanguard Group Inc. boosted its holdings in Celgene by 3.1% during 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 acquiring an additional 1,610,056 shares during the period. State Street Corp raised its position in shares of Celgene by 2.3% during 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 during the last quarter. Jennison Associates LLC raised its position in shares of Celgene by 11.5% during the third quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after buying an additional 1,546,673 shares during the last quarter. Finally, FMR LLC raised its position in shares of Celgene by 5.9% during 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 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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