Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets upped their target price on shares of Celgene from $148.00 to $155.00 and gave the company an outperform rating in a report on Friday, November 17th. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the company a hold rating in a report on Wednesday, January 17th. Stifel Nicolaus set a $130.00 target price on shares of Celgene and gave the company a buy rating in a report on Monday, January 8th. Vetr cut shares of Celgene from a strong-buy rating to a buy rating and set a $121.72 target price for the company. in a report on Monday, December 18th. Finally, BidaskClub lowered shares of Celgene from a hold rating to a sell rating in a research note on Saturday, January 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $128.58.
Shares of Celgene (NASDAQ CELG) traded down $8.66 on Wednesday, reaching $87.12. 27,955,400 shares of the company were exchanged, compared to its average volume of 8,075,038. Celgene has a 52-week low of $87.11 and a 52-week high of $147.17. The stock has a market capitalization of $66,150.00, a PE ratio of 16.93, a PEG ratio of 0.67 and a beta of 1.49. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29.
Celgene declared that its board has authorized a share buyback program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, insider Mark J. Alles purchased 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Mario sold 13,370 shares of the stock in a transaction that occurred 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 ninety days, insiders have sold 31,870 shares of company stock worth $3,028,416. 0.95% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Celgene by 5.7% during the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Vanguard Group Inc. grew its holdings in Celgene by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares in the last quarter. Jennison Associates LLC grew its holdings in Celgene by 11.5% during the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after purchasing an additional 1,546,673 shares in the last quarter. FMR LLC grew its holdings in Celgene by 5.9% during the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock valued at $1,635,643,000 after purchasing an additional 697,250 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Celgene by 3.3% during the 2nd quarter. Franklin Resources Inc. now owns 11,080,093 shares of the biopharmaceutical company’s stock valued at $1,439,025,000 after purchasing an additional 349,974 shares in the last quarter. 77.84% of the stock is currently 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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