Recent Research Analysts’ Ratings Changes for Celgene (CELG)

A number of firms have modified their ratings and price targets on shares of Celgene (NASDAQ: CELG) recently:

  • 5/30/2018 – Celgene had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They wrote, “We expect median Progression Free Survival (PFS) > 10 months for the initial bb2121 dose escalation cohort previously reported at ASH 2017, based on 71% progression free at 9 months. Importantly, we believe PFS data could easily exceed our estimate and the 8.8 months PFS seen for pomalidomide + daratumumab + dexamethasone in Phase 1b. Duration of follow-up key for new n=21 patient cohort Investors should carefully consider the median follow-up time for the new n=21 patient bb2121 cohort with no BCMA expression cutoff, since Complete Responses improve over time. We will consider the initial bb2121 data presented at AACR in 2016, where a 78% ORR and 22% CR rate was seen. Importantly, we expect a very rapid Overall Response Rate, as seen for initial bb2121 data.””
  • 5/29/2018 – Celgene had its price target lowered by analysts at SunTrust Banks from $106.00 to $96.00. They now have a “hold” rating on the stock.
  • 5/25/2018 – Celgene was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 5/24/2018 – Celgene was given a new $112.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 5/23/2018 – Celgene was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $102.00 price target on the stock.
  • 5/23/2018 – Celgene was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
  • 5/10/2018 – Celgene was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Celgene’s first-quarter results were encouraging as the company beat on both sales and earnings. Revlimid sales were impressive yet again along with Pomalyst and Otezla. Celgene’s key growth driver, Revlimid, continues to drive revenues. However, a late stage study on Revlimid in combination with Rituxan failed. Celgene suffered yet another setback when it received Refusal to File letter from the FDA regarding its New Drug Application for multiple sclerosis candidate ozanimod. Celgene was on the look-out of new deals and acquisitions given a lacklustre 2017 and the Juno acquisition was on the same track. We are positive on the acquisition. The bluebird deal will further bolster Celgene’s presence in the CAR-T space. The company has a few data read-outs lined up for the rest of the year on key drugs. Shares have underperformed the industry in the last six months.”
  • 5/7/2018 – Celgene was downgraded by analysts at Royal Bank of Canada from a “top pick” rating to an “outperform” rating. They now have a $120.00 price target on the stock.
  • 5/7/2018 – Celgene had its price target lowered by analysts at Morgan Stanley from $93.00 to $90.00. They now have an “equal weight” rating on the stock.
  • 5/7/2018 – Celgene had its “buy” rating reaffirmed by analysts at Leerink Swann. They now have a $115.00 price target on the stock, down previously from $123.00.
  • 5/6/2018 – Celgene was given a new $107.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 5/5/2018 – Celgene was given a new $112.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 5/5/2018 – Celgene was given a new $129.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 5/2/2018 – Celgene was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 5/1/2018 – Celgene was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $98.00 price target on the stock. According to Zacks, “Celgene was on the look-out of new deals and acquisitions given a lacklustre 2017. The company recently acquired Juno Therapeutics and added JCAR017 (lisocabtagene maraleucel; liso-cel) to Celgene’s lymphoma pipeline.  JCAR017 is a best-in-class CD19-directed CAR-T candidate, currently in a pivotal program for relapsed and/or refractory diffuse large B-cell lymphoma.  The candidate is expected to obtain regulatory approval in the United States in 2019 and generate sales of approximately $3 billion.  The bluebird deal will further bolster Celgene’s presence in the CAR-T space. Celgene’s key growth driver, Revlimid, continues to drive revenues at the company. However, a late stage study on its lead cancer drug Revlimid in combination with Rituxan failed. Celgene suffered yet another setback when it received Refusal to File letter from the FDA regarding its New Drug Application for multiple sclerosis candidate ozanimod.”
  • 4/30/2018 – Celgene had its “buy” rating reaffirmed by analysts at Evercore ISI.
  • 4/19/2018 – Celgene was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Celgene was on the look-out of new deals and acquisitions given a lacklustre 2017. The company recently acquired Juno Therapeutics and added JCAR017 (lisocabtagene maraleucel; liso-cel) to Celgene’s lymphoma pipeline.  JCAR017 is a best-in-class CD19-directed CAR-T candidate, currently in a pivotal program for relapsed and/or refractory diffuse large B-cell lymphoma.  The candidate is expected to obtain regulatory approval in the United States in 2019 and generate sales of approximately $3 billion.  The bluebird deal will further bolster Celgene’s presence in the CAR-T space. Things have been on the downturn for the company since last October after a series of pipeline failures. A late stage study on its lead cancer drug Revlimid in combination with Rituxan failed. Celgene suffered yet another setback when it received Refusal to File letter from the FDA regarding its New Drug Application for multiple sclerosis candidate ozanimod.”
  • 4/17/2018 – Celgene was given a new $129.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 4/13/2018 – Celgene had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $93.00 price target on the stock.
  • 4/12/2018 – Celgene was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 4/2/2018 – Celgene was given a new $112.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.

Shares of Celgene opened at $77.97 on Thursday, Marketbeat reports. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 3.92. The stock has a market capitalization of $56.41 billion, a PE ratio of 11.40, a PEG ratio of 0.49 and a beta of 1.49. Celgene has a fifty-two week low of $74.13 and a fifty-two week high of $147.17.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.47 billion. Celgene had a return on equity of 72.92% and a net margin of 20.73%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 earnings per share. research analysts anticipate that Celgene will post 7.63 EPS for the current year.

In other news, Director Gilla Kaplan sold 27,750 shares of the stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $78.66, for a total value of $2,182,815.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark J. Alles acquired 1,208 shares of the business’s stock in a transaction dated Wednesday, May 9th. The stock was purchased at an average cost of $82.60 per share, for a total transaction of $99,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 187,316 shares of the company’s stock, valued at approximately $15,472,301.60. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP grew its holdings in Celgene by 361.3% during the fourth quarter. Two Sigma Advisers LP now owns 3,134,127 shares of the biopharmaceutical company’s stock worth $327,077,000 after acquiring an additional 2,454,703 shares during the period. Old Mutual Global Investors UK Ltd. grew its holdings in Celgene by 4,047.3% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,576,831 shares of the biopharmaceutical company’s stock worth $140,669,000 after acquiring an additional 1,538,810 shares during the period. Natixis grew its holdings in Celgene by 245.6% during the first quarter. Natixis now owns 1,746,416 shares of the biopharmaceutical company’s stock worth $155,798,000 after acquiring an additional 1,241,120 shares during the period. HealthCor Management L.P. grew its holdings in Celgene by 217.6% during the fourth quarter. HealthCor Management L.P. now owns 1,725,000 shares of the biopharmaceutical company’s stock worth $180,021,000 after acquiring an additional 1,181,820 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Celgene by 11.9% during the third quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock worth $1,372,196,000 after acquiring an additional 1,001,272 shares during the period. 75.69% of the stock is currently owned by institutional investors and hedge funds.

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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