The Leerink Swann Research Analysts Reduce Earnings Estimates for Celgene Corp. (CELG)

The Leerink Swann Research Analysts Reduce Earnings Estimates for Celgene Corp. (CELG)

Celgene Corp. (NASDAQ:CELG) – Equities researchers at Leerink Swann cut their Q3 2016 earnings estimates for Celgene Corp. in a research note issued to investors on Friday. Leerink Swann analyst G. Porges now expects that the firm will post earnings of $1.30 per share for the quarter, down from their prior estimate of $1.32. Leerink Swann has a “Market Perform” rating and a $135.00 price target on the stock. Leerink Swann also issued estimates for Celgene Corp.’s Q4 2016 earnings at $1.39 EPS.

Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 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 analyst estimates of $2.70 billion. During the same period in the previous year, the business earned $1.23 EPS. Celgene Corp.’s quarterly revenue was up 20.9% on a year-over-year basis.

CELG has been the topic of a number of other research reports. Argus reissued a “buy” rating and set a $155.00 price target on shares of Celgene Corp. in a report on Wednesday, September 7th. Cowen and Company reissued a “buy” rating and set a $150.00 price target on shares of Celgene Corp. in a report on Thursday, July 28th. Stifel Nicolaus reissued a “buy” rating and set a $138.00 price target on shares of Celgene Corp. in a report on Tuesday, August 2nd. Vetr lowered Celgene Corp. from a “hold” rating to a “sell” rating and set a $104.37 price target on the stock. in a report on Monday, July 25th. Finally, Zacks Investment Research lowered Celgene Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $137.44.

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Shares of Celgene Corp. (NASDAQ:CELG) opened at 104.07 on Monday. The stock has a market capitalization of $80.67 billion, a price-to-earnings ratio of 43.99 and a beta of 1.49. The firm’s 50-day moving average price is $107.29 and its 200 day moving average price is $105.50. Celgene Corp. has a 1-year low of $93.05 and a 1-year high of $128.39.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jolley Asset Management LLC boosted 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 valued at $120,000 after buying an additional 450 shares during the period. Smithfield Trust Co. boosted its position in 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 period. Kings Point Capital Management boosted its position in 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 period. Integrated Investment Consultants LLC boosted its position in 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 period. Finally, Ropes Wealth Advisors LLC boosted its position 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 valued at $148,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 77.75% of the company’s stock.

In related news, insider Robert J. Hugin sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $110.00, for a total transaction of $11,000,000.00. Following the completion of the sale, the insider now owns 1,022,201 shares of the company’s stock, valued at approximately $112,442,110. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilla Kaplan sold 9,710 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $106.44, for a total transaction of $1,033,532.40. Following the sale, the director now directly owns 72,142 shares of the company’s stock, valued at approximately $7,678,794.48. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

About Celgene Corp.

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