JPMorgan Chase & Co. Reaffirms Buy Rating for Celgene (CELG)

JPMorgan Chase & Co. reissued their buy rating on shares of Celgene (NASDAQ:CELG) in a research note issued to investors on Thursday morning.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Celgene from a sell rating to a hold rating in a report on Tuesday, July 10th. Cowen reissued a buy rating and set a $150.00 target price on shares of Celgene in a report on Tuesday, July 10th. Mizuho reissued a buy rating and set a $129.00 target price on shares of Celgene in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Celgene from a sell rating to a strong-buy rating and set a $102.00 price target for the company in a research report on Wednesday, August 1st. Finally, SunTrust Banks restated a hold rating and set a $101.00 price target on shares of Celgene in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $118.39.

Shares of CELG stock opened at $72.45 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06. Celgene has a 1 year low of $71.14 and a 1 year high of $110.81. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 0.43 and a beta of 1.30.



Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion. As a group, sell-side analysts expect that Celgene will post 7.76 EPS for the current fiscal year.

In related news, Director Ernest Mario sold 12,000 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $92.32, for a total value of $1,107,840.00. Following the completion of the transaction, the director now directly owns 44,413 shares in the company, valued at $4,100,208.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John H. Weiland bought 5,575 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was bought at an average price of $89.73 per share, with a total value of $500,244.75. The disclosure for this purchase can be found here. 0.39% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in CELG. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Celgene in the first quarter worth $767,000. WINTON GROUP Ltd purchased a new position in Celgene in the first quarter worth $308,000. Cacti Asset Management LLC purchased a new position in Celgene in the second quarter worth $1,744,000. Neville Rodie & Shaw Inc. purchased a new position in Celgene in the second quarter worth $9,179,000. Finally, New England Research & Management Inc. lifted its stake in Celgene by 5.1% in the second quarter. New England Research & Management Inc. now owns 18,676 shares of the biopharmaceutical company’s stock worth $1,483,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 72.98% of the company’s stock.

Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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