Investment Analysts’ Recent Ratings Changes for Celgene (CELG)

Celgene (NASDAQ: CELG) recently received a number of ratings updates from brokerages and research firms:

  • 3/20/2017 – Celgene had its “market perform” rating reaffirmed by analysts at Leerink Swann.
  • 3/9/2017 – Celgene 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 drive revenues at the company. Revlimid continued to outperform 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. Fourth-quarter results were disappointing but the company’s outlook for 2017 was encouraging. Shares of Celgene have outperformed the industry in the past one year. However, Celgene is highly dependent on Revlimid for growth. Stiff competition in target markets is another concern.”
  • 3/8/2017 – Celgene had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $150.00 price target on the stock.
  • 3/6/2017 – Celgene was given a new $148.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 3/2/2017 – Celgene had its “outperform” rating reaffirmed by analysts at Cann. They now have a $148.00 price target on the stock.
  • 2/28/2017 – Celgene had its price target raised by analysts at Jefferies Group LLC from $147.00 to $155.00. They now have a “buy” rating on the stock.
  • 2/25/2017 – Celgene was given a new $148.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 2/25/2017 – Celgene was given a new $156.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 2/24/2017 – Celgene had its “outperform” rating reaffirmed by analysts at Cann. They now have a $148.00 price target on the stock. They wrote, “Celgene’s partner, Acceleron Pharma, provided clinical trial enrollment updates for a clinical stage product, Luspatercept, for the potential treatment of myeloid dysplastic syndromes (MDS) and beta-thalessemia. As a result, we now anticipate this drug could launch earlier than previously estimated.””
  • 2/19/2017 – Celgene was given a new $130.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 2/18/2017 – Celgene was given a new $148.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 2/18/2017 – Celgene was given a new $159.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 2/18/2017 – Celgene had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co..
  • 2/17/2017 – Celgene had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $162.00 price target on the stock.
  • 2/17/2017 – Celgene was given a new $148.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “buy” rating on the stock.
  • 2/16/2017 – Celgene was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $132.02 price target on the stock.
  • 2/16/2017 – Celgene was given a new $156.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 2/1/2017 – Celgene 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 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 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 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.
  • 1/27/2017 – Celgene 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 had its price target lowered by analysts at Goldman Sachs Group Inc from $96.00 to $91.00. They now have a “sell” rating on the stock.
  • 1/27/2017 – Celgene had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $120.00 price target on the stock.
  • 1/26/2017 – Celgene had its “buy” rating reaffirmed by analysts at Cann.
  • 1/26/2017 – Celgene was given a new $156.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 1/24/2017 – Celgene had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $159.00 price target on the stock.

Celgene Co. (NASDAQ:CELG) traded up 0.59% during trading on Monday, reaching $126.51. 2,878,400 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $120.08 and its 200-day moving average price is $113.41. Celgene Co. has a 12 month low of $94.42 and a 12 month high of $127.64. The firm has a market cap of $98.42 billion, a price-to-earnings ratio of 50.81 and a beta of 1.74.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 26th. The biopharmaceutical company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.02. Celgene had a return on equity of 77.95% and a net margin of 17.80%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the business earned $1.18 EPS. Celgene’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts anticipate that Celgene Co. will post $7.22 EPS for the current year.

In related news, insider Rupert Vessey sold 4,000 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $124.42, for a total value of $497,680.00. Following the transaction, the insider now directly owns 778 shares in the company, valued at approximately $96,798.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged 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

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