Celgene Corporation (NASDAQ:CELG) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a report released on Friday.
A number of other research firms have also weighed in on CELG. Morgan Stanley lowered shares of Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a research note on Thursday, October 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $173.00 price objective on shares of Celgene Corporation in a research note on Thursday, October 5th. Robert W. Baird reiterated a “buy” rating and issued a $162.00 price objective on shares of Celgene Corporation in a research note on Thursday, September 21st. Cantor Fitzgerald reiterated a “buy” rating and issued a $162.00 price objective on shares of Celgene Corporation in a research note on Tuesday, September 26th. Finally, Bank of America Corporation reiterated a “buy” rating on shares of Celgene Corporation in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Celgene Corporation presently has a consensus rating of “Buy” and a consensus target price of $139.87.
Shares of Celgene Corporation (CELG) opened at $103.15 on Friday. The firm has a market cap of $81,210.00, a price-to-earnings ratio of 16.27, a PEG ratio of 0.80 and a beta of 1.79. Celgene Corporation has a 52 week low of $94.55 and a 52 week 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.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data 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. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 earnings per share. research analysts forecast that Celgene Corporation will post 6.67 EPS for the current fiscal year.
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In related news, insider Terrie Curran sold 1,727 shares of Celgene Corporation stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the transaction, the insider now owns 3,925 shares in the company, valued at $564,768.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of Celgene Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the completion of the transaction, the director now owns 85,551 shares of the company’s stock, valued at approximately $12,110,599.56. The disclosure for this sale can be found here. Insiders sold 20,227 shares of company stock valued at $2,843,956 in the last 90 days. Company insiders own 0.95% of the company’s stock.
Several hedge funds have recently made changes to their positions in CELG. Janus Henderson Group PLC grew its holdings in shares of Celgene Corporation by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after purchasing an additional 8,217,433 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Celgene Corporation by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Oaktop Capital Management II L.P. acquired a new position in Celgene Corporation during the 2nd quarter worth approximately $271,605,000. Arrowstreet Capital Limited Partnership grew its holdings in Celgene Corporation by 1,489.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after acquiring an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Celgene Corporation by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.
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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