Celgene Corporation (CELG) Raised to “Outperform” at Leerink Swann

Celgene Corporation (NASDAQ:CELG) was upgraded by research analysts at Leerink Swann from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has a $150.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $94.42. Leerink Swann’s target price would suggest a potential upside of 24.37% from the company’s previous close. The analysts noted that the move was a valuation call.

Other research analysts also recently issued research reports about the stock. Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, February 25th. Canaccord Genuity set a $156.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, February 25th. Credit Suisse Group set a $148.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, February 18th. Cantor Fitzgerald set a $159.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, February 18th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Celgene Corporation in a report on Saturday, February 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $138.60.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

Celgene Corporation (NASDAQ CELG) traded up 1.27% on Friday, reaching $122.14. 5,133,642 shares of the company were exchanged. The stock has a market capitalization of $95.37 billion, a P/E ratio of 45.87 and a beta of 1.82. Celgene Corporation has a 12-month low of $94.42 and a 12-month high of $127.64. The company’s 50-day moving average price is $119.15 and its 200-day moving average price is $119.62. Celgene Corporation also was the recipient of unusually large options trading activity on Friday. Stock traders acquired 1,785 call options on the stock. This represents an increase of approximately 104% compared to the typical daily volume of 873 call options.

Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.21. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Celgene Corporation will post $7.29 earnings per share for the current fiscal year.

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In other Celgene Corporation news, Director Gilla Kaplan sold 14,033 shares of Celgene Corporation stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $123.83, for a total transaction of $1,737,706.39. Following the transaction, the director now directly owns 73,109 shares of the company’s stock, valued at $9,053,087.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James J. Loughlin sold 9,250 shares of Celgene Corporation stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $124.00, for a total transaction of $1,147,000.00. Following the transaction, the director now directly owns 32,169 shares in the company, valued at $3,988,956. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CELG. Motco increased its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Celgene Corporation during the first quarter valued at approximately $118,000. Carroll Financial Associates Inc. increased its position in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares during the period. FNY Managed Accounts LLC acquired a new position in Celgene Corporation during the first quarter valued at approximately $131,000. Finally, Oakworth Capital Inc. increased its position in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 412 shares during the period. 78.24% of the stock is currently owned by hedge funds and other institutional investors.

About Celgene Corporation

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.

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