Celgene’s (CELG) Buy Rating Reaffirmed at Leerink Swann

Leerink Swann restated their buy rating on shares of Celgene (NASDAQ:CELG) in a research note issued to investors on Wednesday. They currently have a $120.00 price target on the biopharmaceutical company’s stock.

CELG has been the topic of several other research reports. Vetr cut shares of Celgene from a strong-buy rating to a buy rating and set a $146.88 target price on the stock. in a research note on Tuesday, August 29th. Royal Bank of Canada lowered their target price 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. Morgan Stanley lowered their target price 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. Cantor Fitzgerald reaffirmed a buy rating on shares of Celgene in a research note on Monday, August 28th. Finally, SunTrust Banks lowered their price target on shares of Celgene from $156.00 to $127.00 and set a buy rating on the stock in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Celgene currently has an average rating of Buy and an average target price of $136.21.

Shares of Celgene (NASDAQ CELG) traded up $1.17 on Wednesday, reaching $109.41. 9,719,225 shares of the company’s stock traded hands, compared to its average volume of 5,339,085. Celgene has a 52 week low of $94.55 and a 52 week high of $147.17. 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 firm has a market cap of $86,140.36, a PE ratio of 17.10, a PEG ratio of 0.84 and a beta of 1.78.

Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts predict that Celgene will post 6.68 EPS for the current year.

In related news, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the sale, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.95% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Capital Counsel LLC NY boosted its holdings in Celgene by 0.4% in the second quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 6 shares in the last quarter. Fort Pitt Capital Group LLC boosted its holdings in Celgene by 0.6% in the second quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock valued at $250,000 after purchasing an additional 11 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in Celgene by 0.5% in the first quarter. Sowell Financial Services LLC now owns 2,454 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 13 shares in the last quarter. South Texas Money Management Ltd. boosted its holdings in Celgene by 0.6% in the first quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock valued at $305,000 after purchasing an additional 15 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in Celgene by 0.9% in the first quarter. Flagship Harbor Advisors LLC now owns 2,054 shares of the biopharmaceutical company’s stock valued at $253,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.

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Celgene Company Profile

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.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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