Celgene Corp.’s Buy Rating Reaffirmed at TheStreet (CELG)

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TheStreet reiterated their buy rating on shares of Celgene Corp. (NASDAQ:CELG) in a research note released on Friday morning, StockRatingsNetwork.com reports.

“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 robust revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.,” TheStreet’s analyst commented.

A number of other analysts have also recently weighed in on CELG. Analysts at Leerink Swann raised their price target on shares of Celgene Corp. from $177.00 to $197.00 in a research note to investors on Tuesday, January 14th. Separately, analysts at Jefferies Group raised their price target on shares of Celgene Corp. from $185.00 to $197.00 in a research note to investors on Tuesday, January 14th. Finally, analysts at Brean Capital raised their price target on shares of Celgene Corp. from $191.00 to $233.00 in a research note to investors on Tuesday, January 14th. They now have a buy rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the company. Celgene Corp. presently has a consensus rating of Buy and an average price target of $169.50.

Celgene Corp. (NASDAQ:CELG) last announced its earnings results on Thursday, October 24th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.02. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis.

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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