Celgene Corp. (NASDAQ:CELG)‘s stock had its “buy” rating reaffirmed by investment analysts at TheStreet in a note issued to investors on Tuesday, American Banking News reports.
The analysts wrote, “Celgene Corporation (CELG) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
CELG has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Celgene Corp. (NASDAQ:CELG) from $135.00 to $148.00 in a research note to investors on Monday, July 29th. They now have a “neutral” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Celgene Corp. (NASDAQ:CELG) from $145.00 to $150.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Finally, analysts at JMP Securities raised their price target on shares of Celgene Corp. (NASDAQ:CELG) from $150.00 to $160.00 in a research note to investors on Friday, July 26th. They now have a “market outperform” rating on the stock.
Seven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Celgene Corp. currently has an average rating of “Buy” and a consensus price target of $141.46.
Celgene Corp. (NASDAQ:CELG) traded up 0.32% on Tuesday, hitting $148.94. The stock had a trading volume of 690,044 shares. Celgene Corp. has a 1-year low of $71.23 and a 1-year high of $149.92. The stock has a 50-day moving average of $140.9 and a 200-day moving average of $124.4. The company has a market cap of $61.255 billion and a price-to-earnings ratio of 41.52.
Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts predict that Celgene Corp. will post $5.97 earnings per share for the current fiscal year.
In other Celgene Corp. news, Director Gilla Kaplan unloaded 15,000 shares of the stock on the open market in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $143.92, for a total value of $2,158,800.00. Following the completion of the sale, the director now directly owns 22,688 shares in the company. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Celgene Corporation is a global biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
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