Celgene (NASDAQ:CELG) Downgraded by BidaskClub to Buy

Celgene (NASDAQ:CELG) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

A number of other research firms have also issued reports on CELG. ValuEngine upgraded Celgene from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th. Barclays downgraded Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 target price on the stock. in a research note on Friday, May 3rd. Mizuho set a $103.00 target price on Celgene and gave the company a “buy” rating in a research note on Friday, April 5th. Cantor Fitzgerald downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research note on Friday, April 5th. Finally, Atlantic Securities downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 target price on the stock. in a research note on Monday, April 1st. Eighteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $95.56.

NASDAQ:CELG opened at $95.97 on Wednesday. Celgene has a 12-month low of $58.59 and a 12-month high of $97.07. The company has a market cap of $67.68 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.44 and a beta of 1.56. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42.



Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.10. Celgene had a return on equity of 106.69% and a net margin of 30.10%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts expect that Celgene will post 9.85 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of CELG. Archford Capital Strategies LLC grew its holdings in shares of Celgene by 277.8% in the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Castle Rock Wealth Management LLC acquired a new position in shares of Celgene in the 1st quarter worth $27,736,000. Investors Research Corp acquired a new position in shares of Celgene in the 1st quarter worth $28,000. Alera Investment Advisors LLC grew its holdings in shares of Celgene by 109.9% in the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 167 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Celgene in the 1st quarter worth $31,000. 75.19% of the stock is currently owned by institutional investors.

About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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