Celgene Corp. (NASDAQ:CELG) – Investment analysts at Jefferies Group upped their Q3 2016 EPS estimates for shares of Celgene Corp. in a note issued to investors on Wednesday. Jefferies Group analyst B. Abrahams now expects that the firm will post earnings of $1.31 per share for the quarter, up from their previous estimate of $1.30. Jefferies Group has a “Buy” rating and a $134.00 price objective on the stock.
Several other brokerages have also recently issued reports on CELG. BTIG Research restated a “buy” rating and issued a $138.00 price objective on shares of Celgene Corp. in a research note on Sunday, August 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $141.00 target price on shares of Celgene Corp. in a report on Monday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $136.00 target price on shares of Celgene Corp. in a report on Friday, August 19th. RBC Capital Markets reaffirmed a “buy” rating on shares of Celgene Corp. in a report on Tuesday, July 26th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $128.00 target price on shares of Celgene Corp. in a report on Friday, September 16th. Four investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $137.96.
Shares of Celgene Corp. (NASDAQ:CELG) opened at 104.03 on Thursday. Celgene Corp. has a one year low of $93.05 and a one year high of $128.39. The stock’s 50 day moving average price is $107.52 and its 200 day moving average price is $105.48. The stock has a market capitalization of $80.64 billion, a PE ratio of 43.97 and a beta of 1.49.
Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS.
In other news, Director Gilla Kaplan sold 9,710 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $106.44, for a total transaction of $1,033,532.40. Following the completion of the transaction, the director now directly owns 72,142 shares of the company’s stock, valued at approximately $7,678,794.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Hugin sold 100,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $110.00, for a total value of $11,000,000.00. Following the transaction, the insider now directly owns 1,022,201 shares of the company’s stock, valued at $112,442,110. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. First American Bank boosted its position in Celgene Corp. by 3.4% in the third quarter. First American Bank now owns 33,266 shares of the biopharmaceutical company’s stock valued at $3,478,000 after buying an additional 1,090 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its stake in Celgene Corp. by 23.3% in the third quarter. Atalanta Sosnoff Capital LLC now owns 319,201 shares of the biopharmaceutical company’s stock valued at $33,366,000 after buying an additional 60,232 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in Celgene Corp. during the third quarter valued at $2,703,000. F&V Capital Management LLC increased its stake in Celgene Corp. by 1.0% in the third quarter. F&V Capital Management LLC now owns 5,915 shares of the biopharmaceutical company’s stock valued at $618,000 after buying an additional 60 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its stake in Celgene Corp. by 3.8% in the third quarter. Burns J W & Co. Inc. NY now owns 29,115 shares of the biopharmaceutical company’s stock valued at $3,043,000 after buying an additional 1,070 shares during the last quarter. 77.75% of the stock is owned by institutional investors and hedge funds.
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.
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