Celgene (NASDAQ:CELG) has been assigned a $112.00 price target by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 16.93% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank initiated coverage on shares of Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 target price for the company. TheStreet lowered shares of Celgene from a “b-” rating to a “c+” rating in a research report on Friday, November 17th. SunTrust Banks set a $127.00 price target on shares of Celgene and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Stifel Nicolaus reduced their price target on shares of Celgene from $149.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $130.25.
Shares of Celgene (CELG) opened at $95.78 on Tuesday. The company has a market cap of $72,577.42, a P/E ratio of 26.75, a P/E/G ratio of 0.68 and a beta of 1.49. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene has a 12 month low of $88.32 and a 12 month high of $147.17.
Celgene announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, insider Mark J. Alles purchased 3,260 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the acquisition, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Mario sold 13,370 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total transaction of $1,263,331.30. The disclosure for this sale can be found here. In the last three months, insiders sold 31,870 shares of company stock valued at $3,028,416. 0.95% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Counsel LLC NY increased its holdings in Celgene by 0.4% in the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after acquiring an additional 6 shares in the last quarter. Fort Pitt Capital Group LLC boosted its stake in Celgene by 0.6% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Celgene by 0.9% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock worth $395,000 after purchasing an additional 26 shares during the last quarter. Linscomb & Williams Inc. boosted its stake in Celgene by 1.0% during the 2nd quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock worth $495,000 after purchasing an additional 36 shares during the last quarter. Finally, Courier Capital LLC boosted its stake in Celgene by 1.9% during the 2nd quarter. Courier Capital LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 38 shares during the last quarter. 77.84% of the stock is owned by institutional investors.
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Celgene Company Profile
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged 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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