Vetr Inc. Upgrades Celgene Corp. (CELG) to “Hold”

vetr-inc-upgrades-celgene-corp-celg-to-8220hold8221.jpg

Celgene Corp. (NASDAQ:CELG) was upgraded by research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued to investors on Monday. The brokerage currently has a $111.26 target price on the biopharmaceutical company’s stock. Vetr‘s price objective suggests a potential upside of 6.50% from the stock’s previous close.
Several other analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Celgene Corp. from $115.00 to $125.00 in a report on Friday, April 8th. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Celgene Corp. in a report on Thursday, April 28th. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $147.00 target price (up previously from $145.00) on shares of Celgene Corp. in a report on Thursday, April 28th. Cowen and Company reaffirmed a “buy” rating on shares of Celgene Corp. in a report on Thursday, April 28th. Finally, Zacks Investment Research raised shares of Celgene Corp. from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Wednesday, April 27th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $137.98.
Shares of Celgene Corp. (NASDAQ:CELG) traded down 2.95% during mid-day trading on Monday, reaching $104.47. 4,339,122 shares of the company traded hands. Celgene Corp. has a 52 week low of $93.05 and a 52 week high of $128.39. The stock’s 50-day moving average is $110.74 and its 200-day moving average is $104.78. The company has a market capitalization of $80.98 billion, a P/E ratio of 44.15 and a beta of 1.31.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story 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. The original version of this article is available at http://www.americanbankingnews.com/2016/09/11/vetr-inc-upgrades-celgene-corp-celg-to-hold.html

Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.05. Celgene Corp. had a net margin of 18.95% and a return on equity of 67.06%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm posted $1.23 EPS. Celgene Corp.’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts predict that Celgene Corp. will post $5.71 EPS for the current fiscal year.
In other Celgene Corp. news, insider Robert J. Hugin sold 75,000 shares of the stock in a transaction on Monday, June 20th. The shares were sold at an average price of $100.16, for a total transaction of $7,512,000.00. Following the sale, the insider now directly owns 1,122,201 shares of the company’s stock, valued at $112,399,652.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert J. Hugin sold 100,000 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $110.00, for a total transaction of $11,000,000.00. Following the sale, the insider now directly owns 1,022,201 shares in the company, valued at $112,442,110. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.
Several hedge funds have modified their holdings of CELG. Jolley Asset Management LLC boosted its stake in shares of Celgene Corp. by 58.8% in the second quarter. Jolley Asset Management LLC now owns 1,215 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 450 shares during the period. Kings Point Capital Management raised its position in Celgene Corp. by 1.7% in the first quarter. Kings Point Capital Management now owns 1,316 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 22 shares in the last quarter. Integrated Investment Consultants LLC raised its position in Celgene Corp. by 21.8% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 240 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in Celgene Corp. by 0.9% in the first quarter. Ropes Wealth Advisors LLC now owns 1,477 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 13 shares in the last quarter. Finally, Opera Trading Capital raised its position in Celgene Corp. by 135.7% in the first quarter. Opera Trading Capital now owns 1,563 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 900 shares in the last quarter. 78.00% of the stock is currently owned by institutional investors.
About Celgene Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.

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

Be the first to comment on "Vetr Inc. Upgrades Celgene Corp. (CELG) to “Hold”"

Leave a comment

Your email address will not be published.

*