Trading Report: Today, Celgene Corp. (CELG) Now Covered by Oppenheimer Holdings Inc.

Today, Celgene Corp. (CELG) Now Covered by Oppenheimer Holdings Inc.

Research analysts at Oppenheimer Holdings Inc. started coverage on shares of Celgene Corp. (NASDAQ:CELG) in a research report issued on Tuesday. The brokerage set an “outperform” rating and a $141.00 price target on the biopharmaceutical company’s stock. Oppenheimer Holdings Inc.’s target price indicates a potential upside of 17.14% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Vetr upgraded shares of Celgene Corp. from a “hold” rating to a “buy” rating and set a $128.85 price target on the stock in a research note on Tuesday. Cann started coverage on shares of Celgene Corp. in a research note on Monday. They set an “outperform” rating and a $141.00 target price on the stock. Standpoint Research cut shares of Celgene Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Mizuho started coverage on shares of Celgene Corp. in a research note on Monday, November 7th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Celgene Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Wednesday, November 2nd. Four equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $136.62.

Celgene Corp. (NASDAQ:CELG) traded up 1.8010% during trading on Tuesday, hitting $122.4666. 902,205 shares of the stock traded hands. The company has a market cap of $94.94 billion, a P/E ratio of 46.5122 and a beta of 1.71. The firm has a 50-day moving average price of $108.88 and a 200 day moving average price of $106.73. Celgene Corp. has a 52-week low of $93.05 and a 52-week high of $127.00.

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, topping the Zacks’ consensus estimate of $1.48 by $0.10. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Celgene Corp. had a net margin of 19.71% and a return on equity of 70.48%. Celgene Corp.’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. On average, equities analysts expect that Celgene Corp. will post $5.92 EPS for the current year.

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

Several large investors have recently added to or reduced their stakes in CELG. First Heartland Consultants Inc. increased its stake in 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 during the period. D.A. Davidson & CO. increased its stake in 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 during the period. Bainco International Investors increased its stake in 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 during the period. Sheets Smith Wealth Management increased its stake in 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 during the period. Finally, Whalerock Point Partners LLC purchased a new stake in Celgene Corp. during the third quarter worth approximately $2,509,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Celgene Corp. Company Profile

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