Today, Celgene Corp.’s (CELG) “Buy” Rating Reaffirmed at Jefferies Group

Today, Celgene Corp.’s (CELG) “Buy” Rating Reaffirmed at Jefferies Group

Jefferies Group reaffirmed their buy rating on shares of Celgene Corp. (NASDAQ:CELG) in a research note issued to investors on Monday.

A number of other research analysts have also recently weighed in on CELG. Canaccord Genuity set a $156.00 price objective on Celgene Corp. and gave the company a buy rating in a research report on Saturday. RBC Capital Markets reaffirmed a buy rating on shares of Celgene Corp. in a research report on Tuesday, July 26th. Citigroup Inc. lifted their price objective on Celgene Corp. from $124.00 to $127.00 and gave the company a buy rating in a research report on Thursday, September 29th. Piper Jaffray Cos. reissued a buy rating on shares of Celgene Corp. in a research note on Monday, September 12th. Finally, JMP Securities reissued a buy rating and set a $152.00 target price on shares of Celgene Corp. in a research note on Thursday, June 23rd. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $136.46.

Shares of Celgene Corp. (NASDAQ:CELG) traded up 0.68% during mid-day trading on Monday, reaching $100.32. The company’s stock had a trading volume of 228,727 shares. The company’s 50-day moving average price is $105.50 and its 200-day moving average price is $105.57. The stock has a market capitalization of $77.76 billion, a P/E ratio of 42.40 and a beta of 1.49. Celgene Corp. has a 12-month low of $93.05 and a 12-month high of $128.39.

Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.05. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast 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 stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $103.66, for a total transaction of $5,816,984.56. Following the transaction, the director now owns 50,000 shares in the company, valued at $5,183,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert J. Hugin sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $110.00, for a total value of $11,000,000.00. Following the transaction, the insider now owns 1,022,201 shares in the company, valued at approximately $112,442,110. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. First Financial Corp IN increased its position in shares of Celgene Corp. by 30.9% in the third quarter. First Financial Corp IN now owns 967 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 228 shares in the last quarter. Jolley Asset Management LLC increased its position in shares of Celgene Corp. by 58.8% in the second quarter. Jolley Asset Management LLC now owns 1,215 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 450 shares in the last quarter. Smithfield Trust Co. increased its position in shares of Celgene Corp. by 12.5% in the second quarter. Smithfield Trust Co. now owns 1,282 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 142 shares in the last quarter. Kings Point Capital Management increased its position in shares of Celgene Corp. by 1.7% in the first quarter. Kings Point Capital Management now owns 1,316 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 22 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its position in shares of Celgene Corp. by 21.8% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 240 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

Celgene Corp. Company Profile

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