Todays Report: Today, Celgene Corp. (CELG) Upgrade to Buy by Vetr Inc.

Today, Celgene Corp. (CELG) Upgrade to Buy by Vetr Inc.

Celgene Corp. (NASDAQ:CELG) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $128.85 price objective on the biopharmaceutical company’s stock. Vetr‘s target price points to a potential upside of 7.04% from the company’s previous close.

Other analysts have also recently issued reports about the company. Jefferies Group reaffirmed a “buy” rating on shares of Celgene Corp. in a research report on Tuesday, August 23rd. BTIG Research reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a research report on Sunday, August 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corp. in a research report on Tuesday, August 2nd. Zacks Investment Research raised Celgene Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Friday, August 5th. Finally, Piper Jaffray Cos. set a $145.00 price objective on Celgene Corp. and gave the stock a “buy” rating in a research report on Monday, August 15th. Four analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $136.46.

Shares of Celgene Corp. (NASDAQ:CELG) opened at 120.30 on Tuesday. The company’s 50 day moving average price is $108.88 and its 200 day moving average price is $106.73. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $127.00. 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 released its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.84 billion. Celgene Corp. had a return on equity of 70.48% and a net margin of 19.71%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Equities analysts anticipate that Celgene Corp. will post $5.92 earnings per share for the current fiscal year.

In other Celgene Corp. news, Director Richard W. Barker sold 20,000 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $110.82, for a total transaction of $2,216,400.00. Following the transaction, the director now owns 31,332 shares in the company, valued at $3,472,212.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Corp /De/ Celgene acquired 800,150 shares of Celgene Corp. stock in a transaction on Monday, October 24th. The shares were bought at an average price of $14.00 per share, for a total transaction of $11,202,100.00. The disclosure for this purchase can be found here. 0.97% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CELG. First Heartland Consultants Inc. boosted its position in shares of Celgene Corp. by 0.5% in the third quarter. First Heartland Consultants Inc. now owns 5,914 shares of the biopharmaceutical company’s stock worth $618,000 after buying an additional 30 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Celgene Corp. by 8.8% in the third quarter. D.A. Davidson & CO. now owns 87,437 shares of the biopharmaceutical company’s stock worth $9,133,000 after buying an additional 7,090 shares in the last quarter. Bainco International Investors boosted its position in shares of Celgene Corp. by 9.4% in the third quarter. Bainco International Investors now owns 56,261 shares of the biopharmaceutical company’s stock worth $5,881,000 after buying an additional 4,816 shares in the last quarter. Sheets Smith Wealth Management boosted its position in shares of Celgene Corp. by 39.7% in the third quarter. Sheets Smith Wealth Management now owns 30,933 shares of the biopharmaceutical company’s stock worth $3,233,000 after buying an additional 8,795 shares in the last quarter. Finally, Whalerock Point Partners LLC bought a new position in shares of Celgene Corp. during the third quarter worth approximately $2,509,000. Institutional investors own 76.43% of the company’s stock.

Celgene Corp. Company Profile

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.

Related posts

Leave a Comment