Celgene (NASDAQ:CELG) Upgraded at BidaskClub

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BidaskClub upgraded shares of Celgene (NASDAQ:CELG) from a strong sell rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other research firms also recently commented on CELG. ValuEngine downgraded Celgene from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Mizuho reiterated a buy rating and issued a $103.00 target price on shares of Celgene in a research report on Wednesday, July 3rd. Cowen reiterated a hold rating and issued a $102.00 target price on shares of Celgene in a research report on Tuesday, July 30th. Barclays downgraded Celgene from an overweight rating to an equal weight rating and set a $102.00 price objective for the company. in a research report on Friday, May 3rd. Finally, Zacks Investment Research upgraded Celgene from a sell rating to a hold rating and set a $94.00 price objective for the company in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $94.81.

CELG opened at $92.88 on Friday. The firm has a market cap of $66.53 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.44 and a beta of 1.46. Celgene has a 52-week low of $58.59 and a 52-week high of $98.97. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 1.97. The stock’s fifty day moving average is $93.22.

Celgene (NASDAQ:CELG) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.17. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.22 billion. Celgene had a return on equity of 89.93% and a net margin of 32.24%. Celgene’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. As a group, equities analysts anticipate that Celgene will post 9.96 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Celgene by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,014,480 shares of the biopharmaceutical company’s stock valued at $129,095,000 after purchasing an additional 80,990 shares during the period. Geode Capital Management LLC grew its stake in shares of Celgene by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock worth $636,179,000 after acquiring an additional 787,638 shares during the last quarter. Pinnacle Bank grew its stake in shares of Celgene by 8.3% in the first quarter. Pinnacle Bank now owns 1,767 shares of the biopharmaceutical company’s stock worth $167,000 after acquiring an additional 135 shares during the last quarter. Altfest L J & Co. Inc. grew its stake in shares of Celgene by 331.2% in the first quarter. Altfest L J & Co. Inc. now owns 22,570 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 17,336 shares during the last quarter. Finally, Old Port Advisors grew its stake in shares of Celgene by 6.3% in the first quarter. Old Port Advisors now owns 3,304 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Celgene Company Profile

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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