Trade Report: Today: Celgene Corp. (CELG) Receives New Coverage from Analysts at Cann

Today: Celgene Corp. (CELG) Receives New Coverage from Analysts at Cann

Research analysts at Cann initiated coverage on shares of Celgene Corp. (NASDAQ:CELG) in a research note issued on Monday, The Fly reports. The firm set an “outperform” rating and a $141.00 price target on the biopharmaceutical company’s stock. Cann’s price target suggests a potential upside of 17.14% from the company’s previous close.

CELG has been the topic of several other research reports. Vetr downgraded shares of Celgene Corp. from a “strong-buy” rating to a “buy” rating and set a $115.50 price objective on the stock. in a research note on Monday, October 31st. BTIG Research reissued a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a research note on Sunday, August 21st. BMO Capital Markets reissued an “outperform” rating and set a $141.00 price objective on shares of Celgene Corp. in a research note on Monday, October 3rd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $136.00 price objective on shares of Celgene Corp. in a research note on Friday, August 19th. Finally, Jefferies Group reissued a “buy” rating and set a $134.00 price objective on shares of Celgene Corp. in a research note on Monday, October 17th. Five research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Celgene Corp. currently has a consensus rating of “Buy” and an average target price of $136.34.

Celgene Corp. (NASDAQ:CELG) traded down 0.63% during mid-day trading on Monday, reaching $120.30. 3,297,789 shares of the company traded hands. Celgene Corp. has a 52-week low of $93.05 and a 52-week high of $127.00. The stock has a 50-day moving average of $108.41 and a 200 day moving average of $106.51. The stock has a market capitalization of $93.26 billion, a PE ratio of 45.69 and a beta of 1.71.

Celgene Corp. (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.10. Celgene Corp. had a net margin of 19.71% and a return on equity of 70.48%. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that Celgene Corp. will post $5.92 earnings per share for the current year.

In other news, Director Michael A. Friedman sold 18,600 shares of Celgene Corp. stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $116.10, for a total value of $2,159,460.00. Following the transaction, the director now owns 18,600 shares of the company’s stock, valued at approximately $2,159,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Corp /De/ Celgene acquired 800,150 shares of the stock in a transaction dated Monday, October 24th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $11,202,100.00. The disclosure for this purchase can be found here. Company insiders own 0.97% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. First Financial Corp IN boosted 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 valued at $101,000 after buying an additional 228 shares in the last quarter. Jolley Asset Management LLC boosted 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 valued at $120,000 after buying an additional 450 shares in the last quarter. Smithfield Trust Co. boosted 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 valued at $127,000 after buying an additional 142 shares in the last quarter. Integrated Investment Consultants LLC boosted 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 valued at $132,000 after buying an additional 240 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in shares of Celgene Corp. by 202.8% in the third quarter. Cornerstone Advisors Inc. now owns 1,320 shares of the biopharmaceutical company’s stock valued at $138,000 after buying an additional 884 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

About Celgene Corp.

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

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