Celgene (NASDAQ:CELG) Rating Lowered to Buy at BidaskClub

Celgene (NASDAQ:CELG) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

CELG has been the subject of a number of other reports. Leerink Swann set a $115.00 price target on shares of Celgene and gave the stock a “hold” rating in a research note on Friday, November 1st. ValuEngine cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Cowen reaffirmed a “hold” rating and set a $102.00 price target on shares of Celgene in a research note on Tuesday, July 30th. Mizuho reaffirmed a “hold” rating and set a $100.00 price target on shares of Celgene in a research note on Sunday, October 20th. Finally, Robert W. Baird cut shares of Celgene from an “outperform” rating to a “neutral” rating and set a $101.00 price target for the company. in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $97.31.

Shares of CELG stock traded up $0.11 during trading hours on Tuesday, reaching $108.24. 190,275,008 shares of the stock were exchanged, compared to its average volume of 7,705,418. Celgene has a 12-month low of $58.59 and a 12-month high of $110.70. The company has a current ratio of 2.89, a quick ratio of 2.80 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average price is $104.85 and its 200-day moving average price is $97.61. The firm has a market capitalization of $78.30 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.41.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.29. Celgene had a net margin of 34.63% and a return on equity of 78.15%. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect that Celgene will post 10.7 EPS for the current year.

In other news, insider Terrie Curran sold 11,338 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $98.27, for a total value of $1,114,185.26. Following the completion of the sale, the insider now owns 13,493 shares in the company, valued at approximately $1,325,957.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First PREMIER Bank bought a new position in shares of Celgene during the 3rd quarter worth approximately $26,000. B & T Capital Management DBA Alpha Capital Management bought a new position in shares of Celgene during the 3rd quarter worth approximately $28,000. Liberty Wealth Management LLC raised its stake in shares of Celgene by 212.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new position in shares of Celgene during the 2nd quarter worth approximately $33,000. Finally, Lenox Wealth Advisors LLC bought a new position in shares of Celgene during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.66% of the company’s stock.

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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