ValuEngine Upgrades Celgene (CELG) to Hold

Celgene (NASDAQ:CELG) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Saturday, March 30th, ValuEngine reports.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Celgene from $93.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 19th. Cowen started coverage on shares of Celgene in a research note on Tuesday, February 26th. They issued a “market perform” rating and a $102.00 target price for the company. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. Zacks Investment Research upgraded shares of Celgene from a “hold” rating to a “strong-buy” rating and set a $99.00 price target for the company in a research note on Wednesday, January 23rd. Finally, Canaccord Genuity lowered shares of Celgene from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and nine have given a buy rating to the company. Celgene presently has an average rating of “Hold” and an average price target of $99.41.

Shares of NASDAQ CELG traded down $0.54 during mid-day trading on Friday, reaching $93.76. The company had a trading volume of 10,590,794 shares, compared to its average volume of 11,263,870. Celgene has a twelve month low of $58.59 and a twelve month high of $95.44. The company has a current ratio of 2.23, a quick ratio of 2.12 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $65.86 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71.

Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.07. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.98 billion. Celgene had a net margin of 26.48% and a return on equity of 114.66%. During the same period in the prior year, the business posted $2.00 earnings per share. As a group, analysts predict that Celgene will post 10.01 EPS for the current year.

In other Celgene news, Director James J. Loughlin sold 23,466 shares of the business’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the completion of the sale, the director now owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Mario acquired 2,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The stock was acquired at an average cost of $89.99 per share, with a total value of $179,980.00. The disclosure for this purchase can be found here. 0.39% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bruderman Asset Management LLC bought a new stake in shares of Celgene during the 4th quarter worth approximately $25,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of Celgene during the 4th quarter worth approximately $25,000. Athena Capital Advisors LLC bought a new stake in shares of Celgene during the 4th quarter worth approximately $27,000. Liberty Wealth Management LLC bought a new stake in shares of Celgene during the 4th quarter worth approximately $29,000. Finally, Berman Capital Advisors LLC bought a new stake in shares of Celgene during the 4th quarter worth approximately $32,000. 74.81% of the stock is owned by hedge funds and other 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.

Read More: Cost of Goods Sold (COGS)

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Analyst Recommendations for Celgene (NASDAQ:CELG)

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