Celgene Corporation (CELG) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Celgene Corporation (NASDAQ: CELG):

  • 2/1/2017 – Celgene Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $127.00 price target on the stock. According to Zacks, “Celgene’s fourth quarter results were disappointing, with the company missing on both the top and the bottom line. Nevertheless, Revlimid continued to outperform in the quarter on the back of market share gains and increased duration. Other key products – Pomalyst/Imnovid, Abraxane and Otezla – also performed well. Both Otezla and Pomalyst achieved blockbuster status in 2016 recording over $1 billion in sales. Meanwhile, Celgene continues to progress with its label expansion efforts and pipeline development. Label expansion of approved drugs would boost its revenues. Sales of Revlimid are expected to maintain momentum along with Otezla and Pomalyst. The company’s outlook for 2017 was encouraging. Shares of Celgene have outperformed the industry in the past one year. Estimates have gone up post Q4 results. However, Celgene is highly dependent on Revlimid for growth. Stiff competition in target markets is another concern.”
  • 1/30/2017 – Celgene Corporation had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $138.00 price target on the stock.
  • 1/30/2017 – Celgene Corporation had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $148.00 price target on the stock, up previously from $141.00.
  • 1/27/2017 – Celgene Corporation had its price target lowered by analysts at Morgan Stanley from $120.00 to $117.00. They now have an “equal weight” rating on the stock.
  • 1/27/2017 – Celgene Corporation had its price target lowered by analysts at Goldman Sachs Group, Inc. (The) from $96.00 to $91.00. They now have a “sell” rating on the stock.
  • 1/27/2017 – Celgene Corporation had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $120.00 price target on the stock.
  • 1/27/2017 – Celgene Corporation had its price target raised by analysts at Jefferies Group LLC from $142.00 to $147.00. They now have a “buy” rating on the stock.
  • 1/26/2017 – Celgene Corporation was given a new $156.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 1/26/2017 – Celgene Corporation had its “buy” rating reaffirmed by analysts at Cann.
  • 1/24/2017 – Celgene Corporation had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $159.00 price target on the stock.
  • 1/18/2017 – Celgene Corporation was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $131.23 price target on the stock.
  • 1/17/2017 – Celgene Corporation was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $131.49 price target on the stock.
  • 1/13/2017 – Celgene Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Celgene’s key growth driver, Revlimid, continues to grow on the back of market share gains and increased duration. Other key products – Pomalyst/Imnovid, Abraxane and Otezla – should continue to drive the top line. Celgene has posted an encouraging preliminary 2016 results and upped the guidance for 2017, while maintaining its outlook for 2020. Sales of Revlimid are expected to increase 20% from the year-ago period in 2016. Meanwhile, Celgene continues to progress with its label expansion efforts and pipeline development. Label expansion of approved drugs would boost its revenues. The company expects 2017 through 2018 to be dominated by news related to its pipeline and label expansion efforts. Shares of Celgene have outperformed that of the industry in the past one year. Estimates have gone up ahead of Q4 results. However, Celgene is highly dependent on Revlimid for growth. Stiff competition in target markets is another concern.”
  • 1/13/2017 – Celgene Corporation was given a new $159.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 1/12/2017 – Celgene Corporation had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $150.00 price target on the stock.
  • 1/11/2017 – Celgene Corporation had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $162.00 price target on the stock.
  • 1/11/2017 – Celgene Corporation was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $131.49 price target on the stock.
  • 1/9/2017 – Celgene Corporation had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $144.00 price target on the stock.
  • 1/8/2017 – Celgene Corporation had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $135.00 price target on the stock.
  • 1/6/2017 – Celgene Corporation had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $159.00 price target on the stock. They wrote, “Waiting for Guidance. We expect CELG to issue guidance for 2017 in early January. Recent guidance history has involved modest guidance only to creep up through the year, which we think could occur again in 2017. We are not expecting pressure on long term guidance, and continue to value the strength of cash flow, along with share repurchases and possible upside from the pipeline. Our new 2016 forecast goes to $5.93 and our 2017 EPS forecast goes to $7.05. Revlimid Keeps on Going. A key component to CELG’s near term growth is the IMID franchise, anchored by REVLIMID and assisted by Pomalyst. The dynamics in this market (more lines of therapy, longer duration) bode well for continued growth of the multi-billion dollar franchise.””
  • 1/5/2017 – Celgene Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “While Revlimid sales continue to be impressive, Celgene’s dependence on the product for growth is concerning. Lower-than-expected sales of the drug could adversely impact its growth prospects. Sales of other products including Vidaza are far from encouraging as well. In addition, Abraxane targets the highly competitive U.S. market for lung and breast cancer therapy. Therefore, dependence on Revlimid has its inherent risks. In fact, stiff competition in target markets is a major concern. Meanwhile, Celgene has suffered its share of pipeline setbacks. For instance, the company failed in its attempt to expand Revlimid’s label as a maintenance treatment for a certain type of DLBCL patients. Failure to expand the label of approved drugs could hamper their commercial potential. Estimates have also moved down marginally ahead of its fourth-quarter 2016 results. However, shares of Celgene outperformed that of the industry in the past one year.”
  • 1/3/2017 – Celgene Corporation was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $131.59 price target on the stock.
  • 12/29/2016 – Celgene Corporation was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $130.96 price target on the stock.
  • 12/28/2016 – Celgene Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Celgene’s key growth driver, Revlimid, continues to grow on the back of market share gains and increased duration. Other key products – Pomalyst/Imnovid, Abraxane and Otezla – should continue to drive the top line. Celgene’s raised and updated outlook for both 2016 and 2017 is encouraging. The company has guided earnings in the range of $5.88 to $5.92 per share, while net product sales are expected to be about $11.2 billion. The company expects to touch the high end of its previously guided revenue and earnings projections for 2017. Meanwhile, the company continues to progress with its label expansion efforts and pipeline development. Label expansion of approved drugs would boost its revenues. Shares of the company have also outperformed the Medical-Biomedical/Genetics industry year to date. However, Celgene is highly dependent on Revlimid for growth. Stiff competition in target markets is another concern.”
  • 12/20/2016 – Celgene Corporation had its “outperform” rating reaffirmed by analysts at Credit Suisse Group. They now have a $145.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 12/20/2016 – Celgene Corporation had its “buy” rating reaffirmed by analysts at Cann. They now have a $141.00 price target on the stock. They wrote, “Celgene announced today that Japanese regulators have approved Otezla (apremilast) for the treatment of adults with psoriatic arthritis or plaque psoriasis. This is the first oral psoriasis treatment to gain Japanese approval in 25 years.””
  • 12/20/2016 – Celgene Corporation was given a new $141.00 price target on by analysts at Oppenheimer Holdings, Inc.. They now have a “buy” rating on the stock.
  • 12/18/2016 – Celgene Corporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $140.00 price target on the stock.

Celgene Corporation (NASDAQ:CELG) opened at 115.61 on Monday. The firm has a 50 day moving average of $116.15 and a 200-day moving average of $111.71. Celgene Corporation has a 52 week low of $94.39 and a 52 week high of $127.00. The stock has a market capitalization of $89.62 billion, a PE ratio of 46.43 and a beta of 1.74.

Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, January 26th. The biopharmaceutical company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.02. Celgene Corporation had a net margin of 17.80% and a return on equity of 77.95%. The firm earned $2.98 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $1.18 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities analysts predict that Celgene Corporation will post $7.22 EPS for the current year.

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

5 Day Chart for NASDAQ:CELG

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/celgene-corporation-celg-research-analysts-recent-ratings-updates/1657922.html

Receive News & Ratings for Celgene Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *