Today, Celgene Corp.’s (CELG) “Outperform” Rating Reiterated at Credit Suisse Group AG

Today, Celgene Corp.’s (CELG) “Outperform” Rating Reiterated at Credit Suisse Group AG

Celgene Corp. (NASDAQ:CELG)‘s stock had its “outperform” rating reissued by equities research analysts at Credit Suisse Group AG in a research note issued to investors on Tuesday. They presently have a $140.00 price target on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price objective suggests a potential upside of 40.51% from the stock’s previous close.

Several other research analysts have also recently weighed in on CELG. Canaccord Genuity set a $156.00 target price on Celgene Corp. and gave the company a “buy” rating in a research note on Saturday. Cowen and Company reaffirmed an “outperform” rating and set a $150.00 target price on shares of Celgene Corp. in a research note on Tuesday. RBC Capital Markets reaffirmed a “buy” rating on shares of Celgene Corp. in a research note on Tuesday, July 26th. Citigroup Inc. raised their target price on Celgene Corp. from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, September 29th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Celgene Corp. in a research note on Monday, September 12th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $136.46.

Celgene Corp. (NASDAQ:CELG) traded up 0.687% on Tuesday, hitting $100.325. 1,757,052 shares of the stock were exchanged. The company has a market cap of $77.76 billion, a PE ratio of 42.403 and a beta of 1.49. The company’s 50-day moving average is $105.50 and its 200-day moving average is $105.57. Celgene Corp. has a 52 week low of $93.05 and a 52 week high of $128.39.

Celgene Corp. (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company earned $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. The company’s revenue for the quarter 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 year.

In other Celgene Corp. news, Director Richard W. Barker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $110.82, for a total value of $2,216,400.00. Following the sale, the director now owns 31,332 shares of the company’s stock, valued at approximately $3,472,212.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Friedman sold 56,116 shares of the firm’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 sale, the director now directly owns 50,000 shares in the company, valued at approximately $5,183,000. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CELG. Park National Corp OH raised its stake in Celgene Corp. by 0.4% in the third quarter. Park National Corp OH now owns 3,158 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 12 shares during the period. Ropes Wealth Advisors LLC raised its stake in Celgene Corp. by 0.9% in the first quarter. Ropes Wealth Advisors LLC now owns 1,477 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 13 shares during the period. Kings Point Capital Management raised its stake 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 valued at $132,000 after buying an additional 22 shares during the last quarter. Jolley Asset Management LLC raised its stake in shares of Celgene Corp. by 2.1% in the third quarter. Jolley Asset Management LLC now owns 1,240 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 25 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in shares of Celgene Corp. by 0.9% in the third quarter. Gradient Investments LLC now owns 3,123 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 29 shares during the last quarter. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

About Celgene Corp.

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