The Celgene Corp. to Post FY2016 Earnings of $5.16 Per Share, Jefferies Group Forecasts (CELG)

The Celgene Corp. to Post FY2016 Earnings of $5.16 Per Share, Jefferies Group Forecasts (CELG)

Celgene Corp. (NASDAQ:CELG) – Research analysts at Jefferies Group raised their FY2016 earnings estimates for shares of Celgene Corp. in a research note issued on Wednesday. Jefferies Group analyst B. Abrahams now forecasts that the brokerage will post earnings per share of $5.16 for the year, up from their prior forecast of $5.15. Jefferies Group has a “Buy” rating and a $134.00 price target on the stock.

Celgene Corp. (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS.

A number of other equities research analysts have also issued reports on CELG. Barclays PLC reaffirmed a “positive” rating on shares of Celgene Corp. in a research report on Monday, June 13th. Vetr lowered Celgene Corp. from a “strong-buy” rating to a “buy” rating and set a $112.08 target price on the stock. in a research report on Thursday, June 16th. JMP Securities reaffirmed a “buy” rating and set a $152.00 target price on shares of Celgene Corp. in a research report on Thursday, June 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $156.00 target price on shares of Celgene Corp. in a research report on Monday, June 27th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Celgene Corp. in a research report on Thursday, June 30th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Celgene Corp. presently has a consensus rating of “Buy” and a consensus target price of $137.44.

Shares of Celgene Corp. (NASDAQ:CELG) opened at 104.07 on Friday. The stock has a market capitalization of $80.67 billion, a P/E ratio of 43.99 and a beta of 1.49. The company’s 50 day moving average price is $107.29 and its 200 day moving average price is $105.50. Celgene Corp. has a one year low of $93.05 and a one year high of $128.39.

Several hedge funds and other institutional investors have recently bought and sold shares of CELG. Jolley Asset Management LLC increased its position in 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 during the period. Smithfield Trust Co. increased its stake 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 valued at $127,000 after buying an additional 142 shares during the last quarter. Kings Point Capital Management increased 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. Integrated Investment Consultants LLC increased its stake 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 valued at $132,000 after buying an additional 240 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in shares of Celgene Corp. by 0.9% in the first quarter. Ropes Wealth Advisors LLC now owns 1,477 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 13 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors.

In other news, insider Robert J. Hugin sold 100,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $112,442,110. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael A. Friedman sold 56,116 shares of the stock in a transaction 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 approximately $5,183,000. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Celgene Corp. Company Profile

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