Trading Report: The Celgene Corp. (CELG) Stock Rating Reaffirmed by Jefferies Group

The Celgene Corp. (CELG) Stock Rating Reaffirmed by Jefferies Group

Celgene Corp. (NASDAQ:CELG)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a research note issued to investors on Thursday. They presently have a $134.00 target price on the biopharmaceutical company’s stock. Jefferies Group’s price objective points to a potential upside of 28.76% from the company’s previous close.

CELG has been the topic of several other research reports. Argus reaffirmed a “buy” rating and set a $155.00 target price on shares of Celgene Corp. in a report on Wednesday, September 7th. Cowen and Company reaffirmed a “buy” rating and set a $150.00 target price on shares of Celgene Corp. in a report on Thursday, July 28th. Leerink Swann reaffirmed a “market perform” rating and set a $135.00 target price on shares of Celgene Corp. in a report on Monday, September 12th. Bank of America Corp. reaffirmed a “buy” rating and set a $125.00 target price on shares of Celgene Corp. in a report on Wednesday, June 8th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $138.00 price target on shares of Celgene Corp. in a report on Tuesday, August 2nd. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $137.44.

Celgene Corp. (NASDAQ:CELG) opened at 104.07 on Thursday. The firm has a market cap of $80.67 billion, a price-to-earnings ratio of 43.99 and a beta of 1.49. The stock’s 50 day moving average is $107.29 and its 200 day moving average is $105.50. Celgene Corp. has a one year low of $93.05 and a one year high of $128.39.

Celgene Corp. (NASDAQ:CELG) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.05. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts predict that Celgene Corp. will post $5.71 earnings per share for the current fiscal year.

In other Celgene Corp. news, Director Michael A. Friedman sold 56,116 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $103.66, for a total value of $5,816,984.56. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $5,183,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert J. Hugin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $110.00, for a total transaction of $11,000,000.00. Following the completion of the transaction, the insider now owns 1,022,201 shares of the company’s stock, valued at $112,442,110. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Sii Investments Inc. WI increased its position in Celgene Corp. by 25.0% in the first quarter. Sii Investments Inc. WI now owns 9,240 shares of the biopharmaceutical company’s stock valued at $929,000 after buying an additional 1,847 shares during the period. Factory Mutual Insurance Co. increased its position in Celgene Corp. by 18.5% in the first quarter. Factory Mutual Insurance Co. now owns 391,500 shares of the biopharmaceutical company’s stock valued at $39,185,000 after buying an additional 61,000 shares during the period. Telemus Capital LLC increased its position in Celgene Corp. by 91.5% in the first quarter. Telemus Capital LLC now owns 52,041 shares of the biopharmaceutical company’s stock valued at $5,209,000 after buying an additional 24,864 shares during the period. River Wealth Advisors LLC bought a new position in Celgene Corp. during the first quarter valued at approximately $352,000. Finally, Commonwealth Equity Services Inc increased its position in Celgene Corp. by 7.4% in the first quarter. Commonwealth Equity Services Inc now owns 122,717 shares of the biopharmaceutical company’s stock valued at $12,283,000 after buying an additional 8,417 shares during the period. Institutional investors and hedge funds own 77.75% of the company’s stock.

About Celgene Corp.

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