Celgene (CELG) Stock Rating Reaffirmed by Cantor Fitzgerald

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Celgene (NASDAQ:CELG)‘s stock had its “buy” rating reissued by analysts at Cantor Fitzgerald in a research note issued on Thursday. They currently have a $100.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 13.05% from the stock’s current price.

The analysts wrote, “. We reiterate our Overweight rating and $100 12-month price target. Celgene reported a strong 4Q this morning and issued full year 2019 guidance. 4Q revs of ~$4B beat us and consensus on the top line, while adj. EPS of $2.39 also came in above us and consensus at $2.33 and $2.32. Base business trends were surprisingly strong, and management reiterated timelines for all five late- stage pipeline products on track for approval by the end of 2020. We think the key takeaway from the call was that commercial and pipeline execution appear to be back on track with a clear line of sight to the Bristol (BMY, NC) deal closing in 3Q19. We think guidance for 2019 seems conservative.””

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Celgene from a “hold” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research report on Wednesday, January 23rd. Robert W. Baird upgraded shares of Celgene from a “neutral” rating to an “outperform” rating and set a $92.00 target price on the stock in a research report on Friday, January 4th. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. ValuEngine upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. Finally, Goldman Sachs Group upgraded shares of Celgene from a “sell” rating to a “neutral” rating and lifted their target price for the company from $71.00 to $88.00 in a research report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Celgene presently has an average rating of “Buy” and a consensus target price of $110.00.

Shares of NASDAQ CELG traded up $0.40 during trading on Thursday, hitting $88.46. The company had a trading volume of 8,883,593 shares, compared to its average volume of 15,252,307. Celgene has a fifty-two week low of $58.59 and a fifty-two week high of $102.54. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.46 and a beta of 1.44. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06.

A number of hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. raised its stake in Celgene by 29.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,258 shares of the biopharmaceutical company’s stock worth $529,000 after purchasing an additional 1,877 shares during the period. Harvey Capital Management Inc. raised its stake in shares of Celgene by 9.5% in the 4th quarter. Harvey Capital Management Inc. now owns 81,347 shares of the biopharmaceutical company’s stock valued at $5,213,000 after acquiring an additional 7,067 shares during the period. Blackhill Capital Inc. raised its stake in shares of Celgene by 12.9% in the 4th quarter. Blackhill Capital Inc. now owns 28,000 shares of the biopharmaceutical company’s stock valued at $1,795,000 after acquiring an additional 3,200 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Celgene by 22.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 476,377 shares of the biopharmaceutical company’s stock valued at $30,531,000 after acquiring an additional 86,698 shares during the period. Finally, Sigma Planning Corp raised its stake in shares of Celgene by 0.8% in the 4th quarter. Sigma Planning Corp now owns 32,275 shares of the biopharmaceutical company’s stock valued at $2,069,000 after acquiring an additional 268 shares during the period. 72.70% 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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Analyst Recommendations for Celgene (NASDAQ:CELG)

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