Celgene Co. (CELG) Receives Average Rating of “Buy” from Brokerages

Celgene Co. (NASDAQ:CELG) has been assigned a consensus rating of “Buy” from the thirty-seven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $119.22.

CELG has been the subject of several research reports. Zacks Investment Research cut shares of Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Mizuho restated a “buy” rating and issued a $129.00 price objective on shares of Celgene in a research report on Tuesday, July 31st. BidaskClub cut shares of Celgene from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a research report on Thursday, October 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Celgene in a research report on Monday, October 1st. They issued an “overweight” rating and a $100.00 price objective for the company.

In other news, Director John H. Weiland acquired 5,575 shares of Celgene stock in a transaction that occurred on Tuesday, August 7th. The shares were acquired at an average price of $89.73 per share, with a total value of $500,244.75. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ernest Mario sold 12,000 shares of Celgene stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the transaction, the director now directly owns 44,413 shares in the company, valued at approximately $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CELG. Ayalon Holdings Ltd. bought a new position in Celgene during the 2nd quarter worth approximately $100,000. Atlantic Trust LLC bought a new position in Celgene in the second quarter valued at approximately $101,000. Acropolis Investment Management LLC bought a new position in Celgene in the second quarter valued at approximately $112,000. Moneta Group Investment Advisors LLC lifted its stake in Celgene by 2,688.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 9,921 shares in the last quarter. Finally, City Holding Co. bought a new position in Celgene in the second quarter valued at approximately $143,000. 73.25% of the stock is currently owned by institutional investors and hedge funds.

CELG stock traded up $0.09 during trading on Friday, hitting $83.04. 84,044 shares of the stock traded hands, compared to its average volume of 4,354,591. Celgene has a one year low of $74.13 and a one year high of $137.45. The company has a market capitalization of $59.28 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.50 and a beta of 1.30. The company has a quick ratio of 1.40, a current ratio of 1.52 and a debt-to-equity ratio of 5.76.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. Celgene had a net margin of 19.81% and a return on equity of 87.28%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the firm posted $1.82 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts expect that Celgene will post 7.8 earnings per share for the current year.

About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Analyst Recommendations for Celgene (NASDAQ:CELG)

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