Atlantic Securities Lowers Celgene (CELG) to Neutral

Celgene (NASDAQ:CELG) was downgraded by equities research analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday, April 1st, MarketBeat reports. They currently have a $94.34 price target on the biopharmaceutical company’s stock. Atlantic Securities’ price objective points to a potential upside of 1.33% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of Celgene from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a report on Friday, February 1st. Morgan Stanley lowered their price objective on shares of Celgene from $93.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 19th. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 5th. Citigroup lowered their target price on shares of Celgene from $100.00 to $77.00 and set a “neutral” rating on the stock in a report on Monday, December 17th. Finally, BTIG Research assumed coverage on shares of Celgene in a report on Thursday, December 20th. They set a “neutral” rating on the stock. One investment 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’s stock. The company presently has an average rating of “Hold” and a consensus target price of $99.41.

Celgene stock traded down $0.57 during midday trading on Monday, hitting $93.10. 4,965,486 shares of the stock were exchanged, compared to its average volume of 11,525,703. Celgene has a 52 week low of $58.59 and a 52 week high of $95.44. The firm has a market capitalization of $65.67 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.43 and a beta of 1.71. The company has a debt-to-equity ratio of 3.21, a current ratio of 2.23 and a quick ratio of 2.12.

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

In other 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 $5,420,883.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ernest Mario bought 2,000 shares of Celgene stock in a transaction dated 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. Insiders own 0.39% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in Celgene by 9,691.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 16,327,522 shares during the period. Norges Bank bought a new stake in Celgene during the fourth quarter worth about $484,390,000. Parnassus Investments CA raised its stake in Celgene by 1,766.7% during the fourth quarter. Parnassus Investments CA now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $179,452,000 after acquiring an additional 2,650,000 shares in the last quarter. BlackRock Inc. raised its stake in Celgene by 2.8% during the fourth quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock worth $3,438,486,000 after acquiring an additional 1,459,100 shares in the last quarter. Finally, Ellis Investment Partners LLC raised its stake in Celgene by 9,377.1% during the first quarter. Ellis Investment Partners LLC now owns 1,327,458 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 1,313,451 shares in the last quarter. 74.81% of the stock is owned by institutional investors.

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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Analyst Recommendations for Celgene (NASDAQ:CELG)

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